Global engineering services player Cyient has acquired a 27.3 per cent stake in US-based Azimuth AI, a fabless custom ASIC company that is known for its expertise in intelligent energy and power solutions.
Cyient said the strategic investment marks a significant milestone in its efforts to expand its capabilities and drive innovation across the semiconductor industry.
Cyient executive vice-chairman & managing director Krishna Bodanapu said the acquisition will enhance the company’s capabilities in the critical semiconductors space while reinforcing its commitment to next-gen power and energy solutions.
“In July this year, we announced the strategic expansion of our semiconductor business with the establishment of a fully owned subsidiary. Investing in Azimuth AI strengthens our focus on building cutting-edge ASIC chips designed and developed in India — for the world.”
“Driven by the Indian government’s initiatives to boost domestic innovation in semiconductors, India is emerging as a hub for chip development, especially in power and energy-efficient systems,” he added.
Pointing to the synergies between the two companies, Azimuth AI founder & CEO Praveen Yasarapu said, “We are eager to leverage Cyient’s deep expertise in ASIC design, coupled with their proven ability to deliver high-quality, innovative solutions across multiple industries. Together, we aim to deliver groundbreaking solutions that will push the boundaries of semiconductor technology for the global as well as Indian market.”
source: https://cio.economictimes.indiatimes.com/news/mergers-acquisitions/cyient-acquires-27-per-cent-stake-in-us-based-azimuth-ai-to-boost-semiconductor-capabilities/114715465
