AMI acquired by LATTICE SEMICONDUCTOR
Context
Lattice Semiconductor has agreed to acquire AMI in a strategic transaction designed to create a comprehensive secure management and control platform for the technology industry. The acquisition is a key step in advancing Lattice's strategy to expand its market position in high-growth server, AI, and cloud applications. By combining Lattice's leadership in low-power programmable hardware (FPGAs) with AMI's deep expertise in platform firmware and infrastructure manageability software, the merged entity aims to offer integrated, system-level solutions. This combination is intended to address significant challenges faced by data centers, such as increasing hardware modularity, system complexity, and the critical need for constant uptime and streamlined deployment. The deal is expected to accelerate customer time-to-market by providing more complete and integrated solutions for secure management, flexible control, and predictive maintenance. For Lattice, this move deepens its role from a component supplier to a system-level solution provider, significantly expanding its serviceable addressable market and enhancing its ability to deliver value to customers building the next generation of complex computing systems. The companies have emphasized their shared commitment to maintaining an open, silicon-agnostic approach to support a broad partner ecosystem.
AMI, which reported an EBITDA margin of LOGIN in 2026, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in TMT (Tech, Media, Telecom) market trends
Target
AMI is a global leader in foundational technology solutions, specializing in platform firmware and infrastructure manageability for the computing industry, with a significant focus on cloud and AI applications. The company is renowned for its BIOS (Basic Input/Output System) and UEFI (Unified Extensible Firmware Interface) firmware, which are critical for booting and initializing hardware in servers, desktops, and embedded systems. Beyond its core firmware offerings, AMI provides a comprehensive suite of manageability solutions, including Baseboard Management Controller (BMC) firmware, such as MegaRAC. These solutions enable secure, remote monitoring, management, and control of server hardware and data center infrastructure, which is essential for ensuring uptime, security, and operational efficiency. AMI's products are designed to be silicon-agnostic, supporting a wide range of hardware from multiple vendors across the compute, communications, industrial, and embedded markets. The company's expertise in low-level system software allows it to provide robust, secure, and customizable solutions that help original equipment manufacturers (OEMs) and data center operators accelerate their time to market and manage complex computing environments effectively.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (USD)
Similar deals in TMT (Tech, Media, Telecom)
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 06/2026 | CVC | CHESS.COM | UNITED STATES | Software | CVC Capital Partners has announced an investment in Chess.com, the world’s largest online chess platform, alongside General Atlantic, the company’s longstanding investor, which will remain a shareholder. The transaction marks CVC’s entry as an investor in Chess.com to support the platform’s continued development and its expansion within the global chess community. The investment reflects CVC’s strategy of backing companies operating at the intersection of sports, digital entertainment, online communities and consumer experiences |
| 06/2026 | ASYS | M-WORK | FRANCE | Software | The acquisition of m-work shifts Asys’s product perimeter from legacy time-and-attendance tracking into upstream collaborative workforce scheduling and hybrid physical asset optimization. Executed with follow-on programmatic M&A backing from CAPZA through its Growth Tech investment vehicle, this transaction accelerates Asys’s product roadmap by injecting native AI capabilities into its core scheduling engine to target pan-European corporate accounts. The industrial logic relies on immediate cross-sell dynamics, unlocking monetization opportunities for m-work’s module within Asys's established footprint of 1 |
| 05/2026 | LEGALPLACE | LEGALSTART | France | Software | LegalPlace has completed the full acquisition of its historical and primary competitor, Legalstart, marking a major consolidation event within the French LegalTech landscape. The transaction was financed as part of a significant capital increase by LegalPlace, backed by a consortium of investors including Move Capital Fund I, XAnge, and Eurazeo. The purchase of Legalstart's shares was settled entirely in cash. This strategic merger unites two of the most recognized platforms dedicated to online services for entrepreneurs, which had for years competed directly in the same market segment |
| 05/2026 | DOCTOLIB | MEDICUS | United Kingdom | Software | Doctolib executed a strategic acquisition of Medicus, a UK-based developer of clinical software for the National Health Service (NHS), marking its official entry into the United Kingdom. This transaction represents a key milestone in Doctolib's European expansion, adding the UK as its fifth operational market alongside France, Germany, Italy, and the Netherlands. The acquisition is driven by a shared mission to address systemic challenges within healthcare, particularly the increasing demand for care and the significant administrative burden placed on medical professionals |
| 05/2026 | BREGAL SAGEMOUNT / ARDIAN | ENNOV | FRANCE | Software | The transaction represents a transition of ownership from a founder-led corporate structure to a sponsor-backed primary LBO. The core industrial rationale of the ownership transfer is to match the target's capital structure with its cross-border scaling ambitions, specifically accelerating market share gains in the high-volume North American life sciences software sector. The timing of the transaction reflects the inflection point where the target requires institutional private equity expertise and global capital to scale its commercial distribution network |
| 05/2026 | OAKLEY CAPITAL INVESTMENTS | XTEL | BELGIUM | Software | Pan-European private equity investor Oakley Capital has entered into an agreement to acquire a majority equity stake in enterprise software provider XTEL. The transaction is being executed alongside existing shareholders Bain Capital and SilverTree Equity, with the latter remaining invested to actively support the company's next phase of growth. Evercore acted as the exclusive financial advisor to XTEL and the selling consortium throughout the transaction process. For Oakley Capital, the buyout is designed to leverage its extensive track record in backing European software champions to drive XTEL's international expansion into key growth markets such as Latin America and Asia-Pacific, while pursuing targeted M&A opportunities |
| 05/2026 | PUBLICIS GROUPE | LIVERAMP | UNITED STATES | Software | Publicis Groupe has entered into a definitive agreement to acquire 100% of the share capital of US-based LiveRamp through an all-cash public tender offer. This landmark cross-border transaction represents Publicis' largest tech-driven acquisition since Epsilon, explicitly engineered to accelerate the group's digital capabilities in secure data co-creation, advanced data clean rooms, and agentic AI enterprise transformation. By internalizing LiveRamp's interoperable data collaboration platform and network, Publicis aims to combine these assets with its legacy data powerhouse Epsilon, its digital business transformation engine Publicis Sapient, and its proprietary Marcel platform |
| 04/2026 | LONG PATH PARTNERS | IDOX | UNITED KINGDOM | Software | Long Path Partners has declared its all-cash offer for Idox plc unconditional, completing the acquisition process. The transaction involves the transfer of 100% of the share capital of the London-listed software business to the U.S.-based investment manager. The acquisition is a high-conviction investment aligned with Long Path Partners' strategy of backing high-quality, durable software businesses with mission-critical roles in their respective industries. Idox fits the firm's profile of a cash-generative, stable business providing essential regulatory software |
| 04/2026 | TURENNE CAPITAL | KIZEO | FRANCE | Software | The transaction involves the entry of Turenne Emergence into Kizeo’s capital, acquiring a ~20% minority stake through an equity investment of 10 million EUR. This growth LBO represents a strategic partnership aimed at accelerating the company's development trajectory over the next five years. The deal rationale is centered on supporting the target's ambitious growth plan, which includes doubling the firm's size through the expansion of its functional software coverage, pursuing international deployment, and evaluating potential external growth opportunities (buy-and-build) |
| 04/2026 | AMADEUS | IDEMIA PUBLIC SECURITY | FRANCE | Software | The acquisition of Idemia Public Security (IPS) by Amadeus represents a transformational transaction, marking a significant milestone in the structured divestment strategy of Advent International. Strategically, this acquisition allows Amadeus to internalize world-class biometric capabilities, directly supporting its vision for a modernized and secure global travel infrastructure. The transaction follows a highly competitive auction process exclusively targeting industrial buyers, where the Spanish group successfully leveraged its strong pro forma balance sheet to outbid international competitors |
REFERENCES
Valuation range: EV 1b - 4b USD
Revenue range: 150M - 250M USD
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AMI by LATTICE SEMICONDUCTOR are reserved for mynth community members. Register for free to unlock full data.
Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: ami
Acquirer: lattice semiconductor