L&T Semiconductor Tech To Acquire Chip Design Firm Siliconch For Rs 183 Crore
Key Points
The acquisition cost consists of an upfront amount of Rs 133 crore and a deferred amount of Rs 50 crore payable over four years
Mumbai, July 9: Indian conglomerate Larsen & Toubro (L&T) Tuesday said its wholly-owned subsidiary L&T Semiconductor Technologies is acquiring fabless semiconductor design company SiliConch Systems for Rs 183 crore.
The acquisition cost consists of an upfront amount of Rs 133 crore and a deferred amount of Rs 50 crore payable over four years.
In a stock exchange filing, the company said that L&T Semiconductor Technologies Limited (LTSCT) has entered into a share purchase agreement for acquisition of 100 per cent stake in SiliConch Systems Private Limited.
“The acquisition is expected to add IP, engineering skill-sets and design expertise to strengthen the Group’s presence in the fabless semiconductor business, and thus aligns with the overall growth strategy of LTSCT,” said the group company.
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✨The acquisition of SiliConch is expected to be completed by September 15, subject to customary closing conditions.
SiliConch, with a team of 61 employees, is a fabless semiconductor design company which develops System-on-Chip IP, and has 30 granted patents across geographies.
(IANS)
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