Lattice Semiconductor Completes Acquisition of the FPGA Business of Agere Systems
HILLSBORO, Ore.--(BUSINESS WIRE)--Jan. 18, 2002--Lattice
Semiconductor Corporation (Nasdaq:LSCC - news) today announced that it has
completed its previously announced acquisition of the FPGA business of
Agere Systems (NYSE:AGR.A - news) for $250 million in cash.
The acquisition was financed through cash on hand.
As previously reported, Lattice expects the transaction to be
accretive to the Company's 2002 proforma earnings before goodwill.
Lattice management will provide additional commentary on the
acquisition during the Company's regularly scheduled quarterly
earnings conference call at 5:30 am, Pacific Standard Time, on January
24, 2002. Investors may access this call live via the web at
www.on24.com/clients/default/event.html?eventid=147
Statements in this news release looking forward in time are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements involve risks and uncertainties, including
the effect of changing general economic conditions, the effect of
semiconductor market conditions, product demand and market acceptance
risks, risks associated with dependencies on silicon wafer suppliers,
risks related to the Agere FPGA acquisition and its integration with
Lattice, the impact of competitive products and pricing, technological
and product development risks and other risk factors detailed in the
Company's Securities and Exchange Commission filings. Actual results
may differ materially from forward-looking statements.
Oregon-based Lattice Semiconductor Corporation designs, develops
and markets the broadest range of high-performance ISP(TM)
programmable logic devices (PLDs) and offers total solutions for
today's advanced logic designs.
Lattice products are sold worldwide through an extensive network
of independent sales representatives and distributors, primarily to
OEM customers in the communication, computing, industrial and military
end markets. Company headquarters are located at 5555 N.E. Moore
Court, Hillsboro, Oregon 97124 USA; Telephone 503/268-8000; FAX
503/268-8037. For more information access our web site at:
www.latticesemi.com.
Lattice Semiconductor Corporation, L (& design), Lattice (&
design), in-system programmable, ISP and specific product designations
are either registered trademarks or trademarks of Lattice
Semiconductor Corporation or its subsidiaries in the United States
and/or other countries.
Contact:
For Lattice Semiconductor
Steve Skaggs, 503/268-8000 (Investors/Financial Press)
or
Stan Kopec, 503/268-8000 (Electronics Industry Press)
