The acquisition cost includes an upfront amount of Rs 133 crore and a deferred amount of Rs 50 crore payable over four years.
L&T Semiconductor Technologies Ltd (LTSCT) has entered into a share purchase agreement to acquire 100 per cent stake in Siliconech Systems Pvt Ltd, the company said in a stock exchange filing.
"The acquisition is expected to add IP, engineering skill-set and design expertise to strengthen the group's presence in the fabless semiconductor business, and thus will align with LTSCT's overall growth strategy," the group company said.
The acquisition of Siliconch is expected to be completed by September 15, subject to customary closing conditions.
SiliConch, with a team of 61 employees, is a fabless semiconductor design company that develops system-on-chip IP, and has 30 patents in various geographies.
L&T Semiconductor Technologies Ltd (LTSCT) has entered into a share purchase agreement to acquire 100 per cent stake in Siliconech Systems Pvt Ltd, the company said in a stock exchange filing.
"The acquisition is expected to add IP, engineering skill-set and design expertise to strengthen the group's presence in the fabless semiconductor business, and thus will align with LTSCT's overall growth strategy," the group company said.
The acquisition of Siliconch is expected to be completed by September 15, subject to customary closing conditions.
SiliConch, with a team of 61 employees, is a fabless semiconductor design company that develops system-on-chip IP, and has 30 patents in various geographies.
