AcquisitionsMay 4, 2026, 04:24 PM
Lattice to Acquire AMI for $1.65B; Reports Q1 Revenue $170.9M, +42% YoY
AI Summary
Lattice Semiconductor announced a definitive agreement to acquire AMI, a leader in platform firmware, for $1.65 billion, consisting of $1 billion in cash and approximately $650 million in stock. The acquisition is expected to close in Q3 2026 and is anticipated to be accretive to non-GAAP gross margin, free cash flow, and EPS. Concurrently, Lattice reported strong Q1 2026 financial results, with revenue increasing 42.2% year-over-year to $170.9 million and non-GAAP diluted EPS growing 86% to $0.41.
Key Highlights
- Lattice to acquire AMI for $1.65 billion ($1 billion cash, $650 million stock).
- AMI acquisition expected to close in Q3 2026, subject to regulatory approvals.
- Acquisition anticipated to be immediately accretive to non-GAAP gross margin, free cash flow, and EPS.
- Q1 2026 Revenue: $170.9 million, a 42.2% increase year-over-year.
- Q1 2026 GAAP Net Income: $21.8 million ($0.16 per diluted share).
- Q1 2026 Non-GAAP Diluted EPS: $0.41, an 86% increase year-over-year.
- Q2 2026 Revenue Guidance: $175 million to $195 million (expected ~50% YoY growth).
- Compute and Communications revenue reached a record $106.6 million in Q1 2026.