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Hero-owned Tessolve acquires Dream Chip Technologies for Rs 4 billion
Industry News- Nov 08,24
This move aligns with India’s Semiconductor Mission launched in late 2022 to bolster the country’s role in this critical industry following the global chip shortages post-COVID-19.
Hero-owned semiconductor engineering firm Tessolve announced its acquisition of European chip design company Dream Chip Technologies in a deal valued at Rs 4 billion. This acquisition is viewed as a strategic step forward in India's push to secure a stronger role in the global semiconductor sector, a priority given recent global supply chain disruptions.
Tessolve, part of Hero Electronix and owned by the Munjal family of Hero MotoCorp fame, aims to leverage Dream Chip’s expertise to strengthen its position in semiconductor design. This move aligns with India’s Semiconductor Mission launched in late 2022 to bolster the country’s role in this critical industry following the global chip shortages post-COVID-19.
As the world increasingly relies on semiconductors for everything from smartphones to vehicles, India seeks not only to expand in chip design—where it already has a notable presence—but also to eventually establish domestic semiconductor manufacturing. Prime Minister Narendra Modi recently emphasised the potential of India’s semiconductor sector, forecasting significant growth in the next five years. However, India faces challenges in setting up semiconductor fabrication plants, as the industry is currently dominated by the U.S., Taiwan, Japan, and a rapidly advancing China.
Tessolve’s acquisition of Dream Chip is seen as a move to secure India’s edge in chip design. "This acquisition solidifies our position as a top-tier semiconductor engineering firm globally," noted Srini Chinamilli, CEO, Tessolve, highlighting the company’s enhanced capabilities in advanced ASIC design and expanded European footprint. Ujjwal Munjal, Chairman, Tessolve echoed this sentiment, stating that the synergy with Dream Chip positions Tessolve to lead in custom chip design, a rapidly growing market segment.
By advancing its design expertise through this acquisition, Tessolve is not only strengthening India’s semiconductor capabilities but also paving the way for a broader role in the global semiconductor landscape.
(The Week)
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