Lattice Semiconductor has agreed to acquire AMI, the leader in platform firmware and infrastructure manageability software, from private equity owner THL Partners. The deal, announced May 4, 2026 and confirmed in subsequent company filings, is valued at approximately $1.65 billion comprising $1 billion in cash and roughly $650 million of Lattice common stock.
Deal terms
AMI is expected to generate more than $200 million in revenue in 2026, and Lattice said the transaction is anticipated to be immediately accretive to gross margin, free cash flow and non-GAAP EPS after closing. The combined business is projected to reach a $1 billion-plus annual revenue run rate by the fourth quarter of 2026. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals.
Why AMI matters in AI
AMI builds the UEFI/BIOS firmware, baseboard management controllers and orchestration software that bring up servers in cloud and AI data centers. Every NVIDIA or AMD-based AI cluster relies on this layer for boot, lifecycle management and security policies. Pairing Lattice's low-power programmable FPGAs with AMI's firmware footprint gives the combined company a tighter integration point for the AI server BMC and root-of-trust stack used by hyperscalers, OEMs and original design manufacturers.
Strategic context
The acquisition is the largest in Lattice's history and tracks with a wave of consolidation across the AI infrastructure stack that includes other major hardware repositionings. Lattice CEO Ford Tamer told investors the deal accelerates the company's strategy to expand into server, AI and cloud applications spanning hardware, security, manageability and control.
What happens to AMI
AMI is expected to operate as a unit within Lattice, with current leadership staying in place to drive customer continuity with major server platform vendors. Both companies say the integration roadmap will prioritize cross-selling Lattice's secure FPGA designs into AMI's existing OEM and ODM relationships.
Reporting based on coverage from SEC 8-K filings, Data Center Dynamics, Wilson Sonsini and Yahoo Finance.