Bengaluru, NFAPost: L&T Semiconductor Technologies Ltd, the wholly owned susidiary of Larson & Tubro in seconductor business, has opened its new office in Bengaluru after the strategic the acqisition of 100% stake in SiliConch Systems Pvt. Ltd.
In a statement, L&T Semiconductor Technologies ltd Chief Development Officer and global head of Engineering Sanjay Gupta said the new development Centre in Bangalore is a pivotal step in the company’s journey towards innovation and excellence in the Indian semiconductor industry.
“The entire LTSCT team along with the newly acquired Siliconch Systems team, came together to celebrate this significant occasion with enthusiasm and a dream for a bright future. Together, we are poised to redefine the semiconductor landscape of India and drive forward our vision of technological leadership for advanced & innovative semiconductor products from India for the world,” said L&T Semiconductor Technologies ltd Chief Development Officer and global head of Engineering Sanjay Gupta.
Larsen & Toubro Ltd., the renowned engineering and infrastructure conglomerate, announced a significant move to open a new development centre as India is going through a conscious effort to become a self-reliant country in the semiconductor and related areas. This decision assumes significance as the majority of semiconductor technolologies are with Western countries led by the United States.
The acquisition involves an upfront payment of ₹133 crore, with an additional deferred payment of ₹50 crore spread over four years, contingent upon meeting specific targets and conditions. This brings the total acquisition cost to ₹183 crore.
This strategic acquisition is expected to bolster L&T Semiconductor Technologies’ capabilities significantly. By incorporating SiliConch Systems, L&T aims to enhance its Intellectual Property portfolio, engineering skillsets, and design expertise. This move is perfectly aligned with L&T Semiconductor Technologies’ growth strategy, particularly in the highly competitive and evolving fabless semiconductor industry.
L&T’s acquisition of SiliConch Systems underscores its commitment to innovation and growth in the semiconductor sector. By integrating advanced IP and design proficiency, L&T is poised to strengthen its market presence and drive forward its ambition to be a leader in semiconductor technology.