MosChip set to acquire four companies to strengthen Semiconductor Business
Mohan | Myequity news | Date: 23-07-2018 23:00:00 IST
MosChip Semiconductor Technology, a Hyderabad-based leading Semiconductor & IoT technology company, has approved definitive agreements for the acquisition of four companies, namely, Gigacom Semiconductor LLC, California, USA, Gigacom Semiconductor Pvt. Ltd, Visakhapatnam, FirstPass Semiconductors Pvt. Ltd, Hyderabad, and Institute of Silicon Systems Pvt. Ltd, Hyderabad.
MosChip is making these acquisitions as part of the company’s growth plans to offer the full suite of skillset and expand business geography.
Gigacom Semiconductor LLC is a six-year-old company focused on IP development and licensing apart from Mixed Signal Design Services. It has strong customer relationships with top-tier companies for both design services and IP licensing. Moschip will benefit immensely from the silicon proven IP and Silicon Valley presence.
Gigacom Semiconductor Pvt. Ltd is a six-year-old company primarily serving USA and India based customers in the Physical Design and Analog Layout space.
FirstPass Semiconductors Pvt. Ltd. is an eight-year-old, well established company serving multiple customers in Design Verification, Physical Design and Analog Layout space. It serves both India and USA based customers.
Institute of Silicon Systems Pvt. Ltd. (ISS) is a reputed player in the training space and trained more than 800 engineers in Physical design and Analog Layout in the past eight years. The acquisition helps in recruiting & grooming talent pool along with revenues. These acquisitions will help MosChip to add nearly 250+ talented engineers to the global headcount and expand the footprint in North American region. MosChip will get access to high speed serial interface IP (SerDes) which has become key building block for any System-On—Chip (SOC) development, making it one of the few companies with productization capabilities and leading Fab relationships.
Moschip is also pleased to inform the appointment of Mr. Venkata Sudhakar Simhadri as the CEO with effect from 24 July 2018. The Board also proposed to appoint him as Managing Director of the Company after obtaining the Central Government approval.
Venkata is a serial entrepreneur and proven executive in the semiconductor industry. He is the Founder, President & CEO of Gigacom Semiconductor LLC & Founder, Director of Gigacom India (which are under acquisition by MosChip) and the driving force behind establishing IP licensing and design services business with leading semiconductor companies. Earlier to Gigacom, Venkata was the Founder, President & CEO of Time-to-Market (TTM) from 1998 till its acquisition by Cyient in 2008 and was its head of Hi-tech Business Unit till 2012. Venkata has 30 years of experience, primarily working in the USA and India region. He did his BE. from Andhra University and MS from New Jersey Institute of Technology (NJIT).
MosChip shares closed at Rs 29.95, up 4.72 percent.
About MosChip Semiconductor Technology
MosChip Semiconductor Technology Limited is a public listed company engaged in extensive semiconductor markets in aerospace, defence, consumer electronics, networking, telecommunications, mobile communications and IoT.