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Lattice Semiconductor will acquire Cerdelinx Technologies in a stock-for-stock transaction worth about $23M; should close within one month
July 16, 2002
HILLSBORO, Ore. -- Lattice Semiconductor Corporation (NASDAQ: LSCC) today announced that it has entered into an agreement to acquire privately-held Cerdelinx Technologies, Inc. of San Jose, California. Closing is subject to customary conditions and is expected to occur within one month. Under terms of the agreement, Lattice will acquire Cerdelinx in a stock-for-stock transaction worth approximately $23 million. A portion of the consideration will be expensed as in-process research and development in the current quarter. Cerdelinx is an early stage fabless semiconductor company focused on the design of application specific standard products targeted towards emerging high-speed communications and storage applications. Cerdelinx currently has a team of 27 engineers who are developing a portfolio of low-power CMOS transceivers and backplane interfaces with embedded high-speed SERDES I/O to support 10 gigabit-per-second applications. The acquisition will serve to enhance Lattice's silicon development efforts and its ability to deliver leading-edge programmable solutions within the OC-192, networking and storage market segments. "Lattice is committed to offering industry leading embedded 10Gb support and high-speed I/O functionality in conjunction with our future programmable products," stated Steven A. Laub, President of Lattice. "We look for the Cerdelinx team to bring us communications and networking applications expertise as well as augment our mixed signal silicon design capabilities." Lattice Semiconductor Corp.Cerdelinx Communications Inc.
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