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Chip design firm SiliConch bought by L&T Semiconductor for Rs 1.33 billion
Industry News- Jul 15,24
The terms of the deal involve a deferred payment of Rs 500 million over four years.
L&T Semiconductor Tech - a wholly owned subsidiary of L&T - has signed a deal to acquire SiliConch Systems at an upfront payment of Rs 1.33 billion.
The terms of the deal involve a deferred payment of Rs 500 million over four years, the company said in an exchange filing on July 9.
"The acquisition is expected to add IP, engineering skillsets and design expertise to strengthen the Group’s presence in fabless semiconductor business, and thus aligns with the overall growth strategy of L&T Semiconductor", the company said.
SiliConch is a fabless semiconductor design company that develops System-on-Chip IP, employs 61 people and owns 30 patents across geographies.
(Source: MoneyControl)
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