Tech giant Infosys said it agreed to acquire InSemi, a Bengaluru-based semiconductor and embedded systems design provider for Rs 280 crore.
“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.
InSemi was founded in 2013 and has over 900 employees, offers end-to-end semiconductor design services with expertise across electronic design, platform design, automation, embedded and software technologies. It serves several leading global corporations across semi-conductor, consumer electronics, automotive, and hi-tech industries.
The company had revenue of 154 crore in the year ended March last year.
“The acquisition demonstrates our commitment to the semiconductor ecosystem and strengthens expertise in Engineering R&D services,” Infosys said, adding:
“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 platform and industry partnerships. This strategic investment will aim to orchestrate comprehensive end-to-end product development for clients.”
The acquisition process is expected to be completed by the fourth quarter of FY2024, according to Infosys.
“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,” said Shreekanth Sampigethaya & Arup Dash, Co-Founders, InSemi.