Lattice Semiconductor has entered into a definitive agreement to acquire SiliconBlue Technologies, a leader in Custom Mobile Device solutions for the consumer handheld market. Utilising a single chip, ultra-low power Field Programmable Gate Array (FPGA) fabric, SiliconBlue's mobileFPGA devices enable mobile designers to add features to their mobile platform in areas such as connectivity, memory/storage, sensor management, and video/imaging.
Under the terms of the agreement, Lattice Semiconductor will pay approximately $62 million in cash for SiliconBlue Technologies. The acquisition is subject to standard closing conditions, with a targeted close in the fourth quarter of 2011. Lattice ended the third quarter of 2011 with a cash, cash equivalents and short-term marketable securities balance of $267.2 million.
Commenting Darin G. Billerbeck, Lattice Semiconductor's President and Chief Executive Officer, said, “The acquisition is aligned with our Strategic Long Range Plan and will help accelerate our growth strategy in the Mobile Consumer market. Silicon Blue will further strengthen our product roadmap by adding a scalable, low cost, low power nonvolatile memory FPGA, along with key personnel and blue chip customers. Kapil Shankar, SiliconBlue's Chief Executive Officer, will join Lattice Semiconductor as Corporate Vice President of the Mobility Business Unit and will be responsible for the Company's mobility product lines.”
The mobile consumer market for PLD's includes digital cameras, smartphones, eReaders, tablets, notebooks and netbooks. Key market growth trends include the drive for longer battery life, more natural interfaces, increased functionality, lower cost and reduced weight.
