Lattice Semiconductor is set to acquire technology company AMI for $1 billion in cash and around $650 million in shares.

Georgia-based AMI is majority-owned by THL Partners, a middle-market private equity firm. The deal is expected to close in Q3, 2026.

AMI develops firmware and orchestration solutions that speed up the deployment of compute systems in data centers and AI deployments. By combining AMI’s offerings with Lattice’s field-programmable gate arrays (FPGAs) portfolio, the company said it will be able to create secure management and control solutions, ultimately improving its AI and data center products.

FPGA chips consist of logic blocks that can be configured by the customer on the spot to accelerate specific workloads. These programmable chips can then sit alongside microprocessors to make hardware that is faster and more open to a software-defined approach.

“Our acquisition of AMI advances our everywhere companion chip strategy and shared vision to deliver secure management and control solutions that help customers deploy complex systems faster and with greater confidence – with expanded design choice and flexibility, said Lattice president and CEO, Ford Tamer.

“AMI’s expertise in firmware and infrastructure for cloud and AI is a natural extension of our portfolio, deepening our role in system-level security, manageability, and control. We expect our combined capabilities to create significant value for our customers and shareholders.”

AMI CEO, Sanjoy Maity, added: “Lattice and AMI share a long history of collaboration and a common vision for secure system design. This combination allows us to build on that foundation, extending the reach of AMI’s platform firmware and infrastructure manageability solutions while maintaining the open, silicon‑agnostic, multi‑vendor support our customers value. Together, we believe we can deliver more complete and integrated management and control solutions for the systems being designed today – and tomorrow.”

Morgan Stanley & Co. served as exclusive financial adviser, and Wilson Sonsini Goodrich & Rosati acted as legal counsel for Lattice, with committed financing provided by Wells Fargo and Morgan Stanley. J.P. Morgan Securities was the exclusive financial adviser, and Ropes & Gray provided legal counsel for AMI.

Following the publication of its Q1 2026 financial results on May 4, Lattice said the acquisition supports its trajectory toward a more than $1bn annual revenue run rate by Q4 2026, with the company anticipating $200m in sales from AMI this year.

Founded in 1983, Lattice has a current market value of $16.2bn, making it Oregon’s second-most-valuable company after Nike. Lattice posted revenue of $170.9m for the first quarter.