![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
Infosys to buy Bengaluru-based chip designer InSemi for ₹280 cr
![Infosys to buy Bengaluru-based chip designer InSemi for ₹280 cr](https://assets.techcircle.in/uploads/article-image/2024/01/images/34133-untitled-design-20240111-175113-0000.png)
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
Indian IT service major Infosys on Thursday, announced a definitive agreement to acquire InSemi, a Bengaluru-based semiconductor design and embedded services provider for ₹280 crore.
In a regulatory filing, Infosys said that the acquisition of ₹153.6 crore revenue InSemi is expected to close during the fourth quarter of fiscal 2024, subject to customary closing conditions. "Consideration including earn-outs, and management incentives, and retention bonus totaling up to ₹280 crore subject to customary closing adjustments," Infosys said.
The acquisition of InSemi is expected to close during the fourth quarter of fiscal 2024, subject to customary closing conditions.
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
Infosys said the buyout would help accelerate its chip-to-cloud strategy by bringing niche design skills at scale and would also pair seamlessly with its existing investments in artificial intelligence (AI) and automation platforms and industry partnerships.
According to the filing, the investment is expected to further strengthen Infosys’ Engineering R&D capabilities and demonstrate its continued commitment to co-create with global clients to help them navigate their digital transformation journey.
Founded in 2013, InSemi offers end-to-end semiconductor design services with expertise across electronic design, platform design, automation, embedded and software technologies. It serves leading global corporations across semi-conductor, consumer electronics, automotive, and hi-tech industries. InSemi has a team of over 900 design specialists bringing in the competitive advantage, agile mindset, and an innovative approach to build technology-led solutions that transform businesses.
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
"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, InSemi.
Semiconductors are in the spotlight as companies race to build the most powerful chips to make the most of the AI boom, the next tech frontier. The overall semiconductor market in India is projected to reach $55 billion by 2026, with a 20% CAGR during 2022-2026, according to a report by Deloitte.
As we look ahead to 2024, the country is poised to play a significant role in the global semiconductor landscape, driven by escalating demand for consumer electronics, automotive components, and the widespread adoption of AI tools and technologies.
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
Infosys reported a 7.3% year-on-year (YoY) fall in net profit at ₹6,106 crore in the third quarter of FY24. The company also narrowed its revenue growth guidance for the full year to 1.5%-2% for the full year.