Status: Upcoming/New Filing

Acquirer: Canyon Bridge Capital Partners, Inc. (U.S.)

Acquired: Lattice Semiconductor Corp. (US)

Value: Approximately US$1.3 Billion

Industry: Integrated Circuits, Semiconductors

On November 3, 2016, Lattice Semiconductor Corporation, an Oregon based manufacturer of high-performance programmable logic devices, and Canyon Bridge Capital Partners, Inc., an investment fund based in Palo Alto, California, announced that Lattice Semiconductor entered into a merger agreement with Canyon Bridge Acquisition Company, Inc., whereby Lattice semiconductor will become a wholly owned subsidiary of Canyon Bridge for approximately US$1.3 billion. (See Canyon Bridge Capital Partners Press Release, Nov. 3, 2016; Agreement and Plan of Merger in Lattice Semiconductor Form 8-K, Ex-2.1, Nov. 3, 2016.) According to the agreement, the Committee on Foreign Investment in the United States (CFIUS) clearance is a condition to closing the transaction. (See Agreement and Plan of Merger, Section 7.01(b)(iii), in Lattice Semiconductor Form 8-K, Ex-2.1, Nov. 3, 2016.) Lattice Semiconductor “provides smart connectivity solutions powered by our low power FPGA, video ASSP, 60 GHz millimeter wave, and IP products to the consumer, communications, industrial, computing, and automotive markets worldwide.” (See Canyon Bridge Capital Partners Press Release, Nov. 3, 2016.) Canyon Bridge Capital Partners “is a newly formed, global private equity buyout fund, headquartered in Palo Alto, CA,” focused on technology companies. (id.) “Initial funding for Canyon Bridge comes from limited partners in China.” (id.)