Infosys to acquire chip designer InSemi for Rs280 crore
13 Jan 2024
IT services major Infosys on Thursday announced a definitive agreement to acquire InSemi, a leading semiconductor design and embedded services provider for Rs280 crore.
Infosys said the Rs280 crore consideration includes earn-outs, and management incentives, and retention bonus and are subject to customary closing adjustments.
Infosys expects the acquisition of InSemi to be completed by the end of the January-March 2024 quarter, subject to customary closing conditions.
"This collaboration will help accelerate Infosys' Chip-to-Cloud strategy, by bringing niche design skills at scale and will also pair seamlessly with existing investments in AI/Automation platforms and industry partnerships. The collaboration will aim to orchestrate comprehensive end-to-end product development for clients," the company said in a filing.
Semiconductors being at the heart of the technology which is driving exponential growth of Artificial Intelligence (AI), 5G, Hyperconnectivity, High Performance Computing, Quantum Technology, Virtual Reality, IoT and Smart Devices, this investment will help Infosys accelerate its Chip-to-Cloud strategy, by bringing niche design skills at scale and will also pair seamlessly with existing investments in AI/Automation platforms and industry partnerships.
The collaboration with InSemi will bring new capabilities to Infosys, helping it to develop end-to-end products for clients.
"Infosys has been a leader and at the forefront of delivering cutting edge solutions across industries with Engineering R&D services. With the advent of AI, Smart devices, 5G and beyond, electric vehicles, the demand for next-generation semiconductor design services integrated with our embedded systems creates unique differentiator. InSemi is a strategic investment as we usher a next wave of growth and a leadership position in Engineering R&D," said Dinesh R, EVP & Co-delivery head, Infosys.
"Over the last five years, InSemi has built a foundation with solid growth and design capabilities across the semiconductor value chain. With Infosys as our catalyst, it creates a synergistic combination that allows us to scale and bring the power of AI & Engineering R&D and next-generation technology to global clients, expanding across industry sectors. We aim to further accelerate our progress and together with Infosys, it paves a path of innovation opening new opportunities for our teams", said Shreekanth Sampigethaya & Arup Dash, Co-founders of InSemi.
Founded in 2013, InSemi offers end-to-end semiconductor design services with expertise across electronic design, platform design, automation, embedded and software technologies. It is a market leader in the semiconductor design and embedded system solutions space, providing end-to-end semiconductor design services including RTL & ASIC Design, Physical Design, STA, Verification, DFT, Circuit Design and Layout, FPGA, Foundation IP design, PSV, and Emulation.
InSemi serves leading global corporations across semi-conductor, consumer electronics, automotive, and hi-tech industries. With a team of over 900 design specialists, InSemi has seen exponential growth.
