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Lattice Semiconductor agreed to buy Vantis Corporation, AMD’s wholly owned programmable-logic subsidiary, for $500 million in cash on April 21, 1999. The deal closed on June 15, 1999. Lattice said Vantis would expand its research and development and sales capacity; AMD said the sale would let it focus resources on microprocessors and related businesses.
What did Lattice acquire from AMD?
Vantis was AMD’s wholly owned programmable-logic subsidiary. AMD described its business as developing and marketing complex and simple high-performance CMOS programmable logic devices, or PLDs. The 1999 announcement singled out Vantis’s 3.3-volt MACH products alongside Lattice’s recently released BFW products.
In practical terms, the transaction was a sale of a programmable-logic business—not an acquisition of AMD’s microprocessor operations. The contemporaneous descriptions establish Vantis’s product category and mention MACH, but do not provide a complete product catalogue or establish present-day availability.
Why did Lattice and AMD make the deal?
Lattice sought more scale in programmable logic
Lattice president Cyrus Y. Tsui called the acquisition “a major strategic move for Lattice.” The announcement said the company expected significantly expanded R&D and sales organizations, which it believed would help accelerate innovative, higher-density programmable solutions.
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AMD wanted to focus its resources
AMD president and Vantis chairman Rich Previte said the divestiture strengthened AMD’s balance sheet. AMD also said the sale would allow it to concentrate investment and resources on microprocessors and other circuits serving personal-computer connectivity, visual computing, and Internet access.
How much did Lattice pay for Vantis?
The $500 million headline figure describes the cash consideration announced for the transaction, not every acquisition-related cost reflected in Lattice’s later accounting. The reported amounts below refer to different measures and should not be treated as competing estimates of the same thing.
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| Measure | Reported amount | Meaning and source |
|---|---|---|
| Announced cash consideration | $500 million | AMD’s April 21, 1999 announcement described the price as cash and included expected Vantis net cash and equivalents of about $60 million. |
| Cash received at completion | Approximately $500 million | AMD’s June 15, 1999 completion release reported cash received, subject to adjustments. |
| Cash net of Vantis cash and short-term investments | Approximately $439 million | AMD’s amended July 14, 1999 filing reported this amount after accounting for about $61 million of Vantis cash and short-term investments. |
| Cash consideration in Lattice’s later accounting | Approximately $500.1 million | Lattice’s later financial filing reported this cash consideration. |
| Total purchase price in Lattice’s later accounting | $583.1 million | Lattice’s later financial filing included direct acquisition costs, contingencies, exit costs, assumed liabilities, and exchanged employee options in this total. |
| In-process research and development appraisal | $89 million | Lattice’s later financial filing reported this appraisal as part of its acquisition accounting. |
| AMD’s preliminary pre-tax gain | Approximately $432 million | AMD’s amended filing reported a preliminary gain, subject to adjustment. |
The gap between the $500 million cash headline and Lattice’s $583.1 million total purchase price reflects a difference in accounting scope: the latter included costs, liabilities, contingencies, and employee-option value in addition to cash consideration. AMD’s roughly $439 million figure is also a net figure, subtracting Vantis’s cash and short-term investments from the approximately $500 million received.
When did the transaction close?
- April 21, 1999: Lattice and AMD announced a definitive agreement for the sale.
- June 15, 1999: AMD announced that the transaction had been completed.
- July 14, 1999: AMD’s amended filing gave additional detail on the cash received, Vantis’s cash and short-term investments, and AMD’s preliminary gain.
What did AMD report after the sale?
In its 1999 annual reporting, AMD recorded $87 million in Vantis product sales, equal to 3% of AMD’s 1999 net sales through June 15, the closing date. AMD also reported $43 million in service fees from Lattice. These are separate reported figures: the product sales describe Vantis revenue recorded by AMD through the sale date, while the service-fee figure records payments from Lattice.
The transaction record is based on archival company announcements and SEC filings from 1999–2000. It documents the historical deal and business; it does not establish current availability of Vantis components or current Lattice migration support for those parts.
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