Infosys To Acquire InSemi Technology For $34 Mln

Infosys To Acquire InSemi Technology For $34 Mln

Indian IT services provider aims to strengthen its expertise in engineering R&D services with the acquisition of InSemi Technology

Infosys Ltd. agreed to acquire InSemi Technology Services Private Ltd. for 280 crore rupees ($34 million) to strengthen its expertise in engineering research and development (R&D) services.

The acquisition of InSemi, a leading semiconductor design and embedded services provider, will help accelerate Infosys’ chip-to-cloud strategy by bringing niche design skills at scale, as well as also pair seamlessly with existing investments in AI/Automation platforms and industry partnerships, the Indian IT services provider said in a stock exchange announcement.

“With the advent of AI, smart devices, 5G and beyond, electric vehicles, the demand for next-generation semiconductor design services integrated with our embedded systems creates unique differentiator,” said Dinesh R., EVP & Co-Delivery Head, Infosys. “InSemi is a strategic investment as we usher a next wave of growth and a leadership position in engineering R&D.”

The acquisition is likely to close in the fourth quarter of FY24, subject to customary closing conditions.

InSemi Overview

Founded in 2013, InSemi offers end-to-end semiconductor design services with expertise across electronic design, platform design, automation, embedded and software technologies, according to the statement.

The Bengaluru-based InSemi, which has over 900 design specialists, serves leading global corporations across semiconductor, consumer electronics, automotive, and hi-tech industries.

InSemi, co-founded by Shreekanth Sampigethaya and Arup Dash, reported a revenue of 153.6 crore rupees in the fiscal year ended 31 March 2023, up from 109.5 crore rupees in FY22.

Note: $1 = 83.0675 Indian rupees

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