L&T Semiconductors Technologies, a wholly owned subsidiary of Larsen & Toubro Limited, has acquired SiliConch Systems Private Limited at total of Rs. 183 crores. The company informs the exchange regarding acquisition on July 8.
L&T Semiconductors Technologies, under the Share Purchase Agreement on July 8, 2024, acquired 100% equity stake in SiliConch Systems at a total cost of Rs. 183 crores. The acquisition cost consists of an upfront amount of INR 133 Cr payable at Closing, subject to closing adjustments and a deferred amount of INR 50 Cr payable over 4 years.
The acquisition is expected to add IP, engineering skillsets and design expertise to strengthen the Group’s presence in fabless semiconductor business. The acquisition aligns with the overall growth strategy of LTSCT.
Incorporated in 2016, Silicon Systems Private Limited specializes in the development / design of semiconductor Intellectual Property (IP) / Integrated Circuits (IC). The company with a team of 61 employees develops System-on-chip IP, and has 30 granted patents across geographies. The Operational revenue of the company for FY24 is Rs. 27.68 crores, for FY23 is 19.97 crores and for FY22 is 11.02 crores.
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