Tallahassee, FL 12/8/11 (StreetBeat) -- Chipmaker Lattice Semiconductor Corp (Nasdaq:LSCC) cut its fourth-quarter revenue outlook on softening demand at its communications business, and said it will buy SiliconBlue Technologies for $62 million in cash.The acquisition of SiliconBlue, which makes parts for digital circuits used in mobile devices, will help Lattice grow its mobile market share.
BlueRun Ventures, Crosslink Capital, NEA, Apex Venture Partners, TSMC are among the investors in SiliconBlue.
Lattice, which competes with Altera Corp and Xilinx Inc, now expects revenue to decline by 14-17 percent sequentially, from the earlier forecast of a 4-9 percent sequential fall.
Shares of Lattice were down 5 percent in pre-market trade on Friday. They had closed at $6.59 on Thursday on Nasdaq.
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