Software major Infosys Ltd has announced plans to acquire InSemi, a leading provider of semiconductor design and embedded services. The acquisition, valued at Rs 280 crore, is expected to be finalized in the fourth quarter of fiscal 2024, subject to customary closing conditions.
With this strategic move, Infosys aims to expand its offerings in the semiconductor sector and strengthen its presence in the rapidly growing embedded systems market. InSemi, headquartered in Bengaluru, has a highly skilled workforce of over 900 individuals.
The decision to acquire InSemi aligns with Infosys’ vision to provide comprehensive solutions to its clients in the technology industry. By integrating InSemi’s expertise, Infosys aims to enhance its capabilities in semiconductor design, embedded systems, and related services.
This acquisition comes at a time when the global demand for semiconductor products is on the rise. Various industries, including automotive, healthcare, telecommunications, and consumer electronics, heavily rely on semiconductors for their operations. By leveraging InSemi’s capabilities, Infosys can tap into this growing market and offer cutting-edge solutions to its clients.
The acquisition agreement specifies that the consideration for InSemi will include earn-outs, management incentives, and retention bonuses, totaling up to Rs 280 crore, subject to customary closing adjustments.
Infosys’ foray into semiconductor design and embedded services demonstrates the company’s commitment to innovation and its focus on meeting the evolving needs of its clients. This acquisition is set to position Infosys as a key player in the semiconductor industry, while further strengthening its market position in the technology services sector.
The source of the article is from the blog tvbzorg.com