Lattice Semiconductor Corporation is to acquire SiliconBlue Technologies, which is a well-renowned pioneer and leader in the field of Custom Mobile Device ™ solutions. To quickly add features to the mobile platform in several areas, namely, connectivity, sensor management, memory, videography, and imaging, there is a single chip, ultra-low power Field Programmable Gate Array (FGPA). These FGPA devices of SiliconBlue have already shipped an enormous unit to many top-tier OEMs.
According to the agreed terms, Lattice Semiconductor Corporation will pay an amount of $62 million cash for SiliconBlue Technologies. In terms of the agreement, the procurement here is subject to some standard closing conditions along with a targeted close year in 2011’s fourth quarter (Q4).
The lattice semiconductor company had a balance of $267.2 million In the third quarter of 2011, which comprised cash and its equivalents and short-term marketable securities as well as per savitzforbes.
An Insight Glance at SiliconBlue:
The leader of Custom Mobile Device (CMD) solutions silicon blue was founded in 2006, and it had over 250 active end customers and 40 and more patents at that time. It has its headquarters in Santa Clara, California. Other than that, it has offices in China, Korea, Japan, and Taiwan.
Silicon blue company has the following investors; BlueRunVentures, Crosslink Capital, NEA, Apex Venture Partners, TSMC, and Atlantic Bridge. Recently, Silicon blue company secured $18 million in Series D financing.
It offers a wide range of electronic devices and services, namely, IP, design services, ultra-low power, single-chip, and CMOS SRAM mobile Field Programmable Gate Array (FPGA) devices, along with a new patented non-volatile configuration memory (NVCM).
A Brief Look at Lattice Semiconductor:
Lattice Semiconductor is the low-power programmable leader, and it solves problems or issues faced by customers from the initial stage of Edge to the final stage of the Cloud. It works in the developing communications, industrial, automotive, computing, and consumer markets.
Lattice Semiconductor’s amazing technology, long-term relationships, and other commitments to support at the global level allow their customer to understand its innovation in building a safe, smart, and connected world.
Forward-Looking Statements Notice:
With any forthcoming deal comes commitments that have estimates, risks, unknown uncertainties, and positive and negative estimates. It includes targeted closing dates and future strategies of the company to accelerate growth to achieve more targets in the market, ideas and plans to strengthen the product roadmap, and most importantly, SiliconBlue’s ability to achieve another level of growth.
Along with all these, forward-looking includes some terminologies to help explain plans and ideas better like, “will,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or other dissident terms to present the negative aspects and possibilities and compare the same.
All the plans and ideas presented on paper often don’t turn out to be the same practice. There are always some changes that can be made to make plans better and more efficient. So, to overcome the flaw of actual results differing materially from the designed forward-looking statements, here are some factors to overcome the same.
- The risk associated with the idea of incorporating with SiliconBlue is that its business might not be successfully integrated with the company’s business.
- Internal or external matters arise while satisfying the closing conditions for the transactions and problems between networking and connecting with the efforts of the parties to comply.
- The two companies might compete with each other, given that the whole market will grow with more competition and technological growth. This whole non-cooperation might affect the overall completion process of the transaction.
- Domains of industry and economic and political conditions are out of the parties’ control.
There are other described risks in the press release that are described timely in the filings of the company with the Securities and Exchange Commission. The company does not intend to revise or change any of the forward-looking statements under any circumstances after the date or to reflect the sudden occurrence of any foreseen event.
Lattice Semiconductor Corporation, Lattice (& design), L (& design), and specific product designations are the trademarks of Lattice and are either registered trademarks or subsidiaries in the United States and/or other countries.
SiliconBlue is a registered trademark and Custom Mobile Device (CMD), whereas mobile FPGA, iCE65, iCE40, iCEman, and iCEcube2 are the trademarks of SiliconBlue Technologies Corporation. Any other trademarks, either registered or unregistered, are properties of their respective owners.
According to the mutually accepted agreement terms, the CEO of SiliconBlue, Kapil Shankar, will be joining Lattice Semiconductor Corporation as a Corporate Vice-President of the Mobility Business Unit.
he will be held responsible for the company’s mobility product lines. Shankar said: “Lattice gives us the global scale, proven market credibility, and financial backing to take SiliconBlue to the next phase of its growth.”
Bloomberg Analysts expect to see revenues of $76.1 million if this deal goes according to the planned strategies following the agreement.