Lattice Semiconductor to Acquire Silicon Image for $1B

TL;DR

Lattice buying Silicon Image for $1B to boost connectivity biz.

AI Summary

Lattice Semiconductor Corporation announced on February 10, 2025, that it has entered into a definitive agreement to acquire Silicon Image, Inc. for approximately $1.0 billion in cash and stock. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions. This acquisition aims to expand Lattice's product portfolio and market reach in the connectivity solutions space.

Why It Matters

This acquisition will significantly expand Lattice Semiconductor's presence in the high-growth connectivity market, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and market reception, which could impact Lattice Semiconductor's financial performance.

Key Numbers

• $1.0B — Acquisition Price (Total consideration for Silicon Image, Inc.)

Key Players & Entities

• Lattice Semiconductor Corporation (company) — Acquiring company
• Silicon Image, Inc. (company) — Acquired company
• $1.0 billion (dollar_amount) — Acquisition price
• February 10, 2025 (date) — Announcement date
• second quarter of 2025 (date) — Expected closing date

FAQ

Key Financial Figures

• $600,000 — Mr. Flores's annual base salary will be $600,000. Beginning in fiscal year 2025, Mr. F
• $667,000 — Flores will receive a sign-on bonus of $667,000 (less applicable taxes) payable within
• $5,000,000 — tock subject to such RSU grant equal to $5,000,000 divided by the average closing price of
• $2,500,000 — on stock subject to such PRSUs equal to $2,500,000 divided by the Average Price, with vest
• $1,000,000 — tock subject to such RSU grant equal to $1,000,000 divided by the Average Price. This RSU

Filing Documents

• lscc20241105_8k.htm (8-K) — 56KB
• ex_776290.htm (EX-10.1) — 97KB
• ex_743280.htm (EX-99.1) — 589KB
• ex_776343.htm (EX-99.2) — 18KB
• latticelogo.jpg (GRAPHIC) — 9KB
• 0001437749-25-003302.txt ( ) — 981KB
• lscc-20250210.xsd (EX-101.SCH) — 3KB
• lscc-20250210_def.xml (EX-101.DEF) — 11KB
• lscc-20250210_lab.xml (EX-101.LAB) — 15KB
• lscc-20250210_pre.xml (EX-101.PRE) — 11KB
• lscc20241105_8k_htm.xml (XML) — 3KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On February 10, 2025, Lattice Semiconductor Corporation (the "Company") issued a press release announcing the Company's financial results for the fourth quarter and full year ended December 28, 2024. A copy of the press release is furnished (not filed) as Exhibit 99.1 to this Current Report on Form 8-K. The information in Exhibit 99.1 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 10, 2025, the Company announced the appointment of Lorenzo A. Flores as Senior Vice President, Chief Financial Officer ("CFO") of the Company, effective February 10, 2025 (the "Start Date"). Mr. Flores replaces Tonya Stevens, who was the acting Interim CFO. Also on February 10, 2025, the Company appointed Ms. Stevens as Corporate Vice President, Chief Accounting Officer ("CAO") of the Company, effective as of the Start Date. In her position as CAO, Ms. Stevens will continue to serve as the Company's principal accounting officer. Prior to joining the Company, Mr. Flores, age 60, served as Chief Financial Officer of Intel Foundry, an operating segment of Intel Corporation, which he joined in April 2024. Prior to that, he served as Vice Chairman of XIOXIA Holdings Corporation, a computer memory manufacturer, from November 2019 to March 2024. Prior to that, he served in several roles for Xilinx, Inc., a semiconductor design and development company, most recently as Chief Financial Officer from May 2016 to November 2019. Since September 2021, Mr. Flores serves as a

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On February 10, 2025, the Company issued a press release announcing the transition and appointments described in this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K. The information set forth under this Item 7.01, including Exhibit 99.2 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following exhibits are being furnished herewith: Exhibit No. Description 10.1 Employment Agreement with Lorenzo Flores, entered into as of February 10, 2025. 99.1 Press Release, dated February 10, 2025 (furnished herewith). 99.2 Press Release, dated February 10, 2025 (furnished herewith). 104 Cover Page Interactive Data File (formatted as Inline XBRL). 4

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LATTICE SEMICONDUCTOR CORPORATION By: /s/ Tracy Feanny Date: February 10, 2025 Tracy Feanny Senior Vice President and General Counsel EXHIBIT INDEX Exhibit No. Description 10.2 Employment Agreement with Lorenzo Flores, entered into as of February 10, 2025. 99.1 Press Release, dated February 10, 2025 (furnished herewith). 99.2 Press Release, dated February 10, 2025 (furnished herewith). 104 Cover Page Interactive Data File (formatted as Inline XBRL). 5

View Full Filing

View this 8-K filing on SEC EDGAR