Lattice Semi to Buy Agere FPGA Biz

Will spend $250 million to break into FPGA market

December 10, 2001

1 Min Read

HILLSBORO, Ore. and ALLENTOWN, Pa. - December 10, 2001 - Lattice Semiconductor Corporation (NASDAQ: LSCC) and Agere Systems (NYSE: AGR.A) today announced a definitive agreement under which Lattice Semiconductor will acquire the FPGA business of Agere Systems for $250 million in cash. The acquisition will be financed through cash on hand.

Agere and Lattice anticipate closing the transaction in the first calendar quarter of 2002 subject to regulatory approval and other customary closing conditions. The transaction is expected to be accretive to Lattice's calendar year 2002 proforma earnings before goodwill.

Lattice Semiconductor Corp. (NASDAQ: LSCC)

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