SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 09 Jul, 2024  

LT.Thmb.jpg L&T Semiconductor Tech to acquire chip design firm SiliConch for Rs 183 crore

   Top Stories
» 28 Indian startups raised over $800 mn in funding this week
» GST Council waives interest, penalty on notices to taxpayers under Section 73
» India's innovation ecosystem poised for exponential growth: Industry
» India's innovation ecosystem poised for exponential growth: Industry
» Overseas Indians faith grows in Indian economy with $1 billion deposits in April
IANS | 09 Jul, 2024

Indian conglomerate Larsen & Toubro on Tuesday said its wholly-owned subsidiary L&T Semiconductor Technologies is acquiring fabless semiconductor design company SiliConch Systems for Rs 183 crore.

The acquisition cost consists of an upfront amount of Rs 133 crore and a deferred amount of Rs 50 crore payable over four years.In a stock exchange filing, the company said that L&T Semiconductor Technologies Limited (LTSCT) has entered into a share purchase agreement for acquisition of 100 per cent stake in SiliConch Systems Private Limited.

“The acquisition is expected to add IP, engineering skill-sets and design expertise to strengthen the Group’s presence in the fabless semiconductor business, and thus aligns with the overall growth strategy of LTSCT,” said the group company.

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 which develops System-on-Chip IP, and has 30 granted patents across geographies.


Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
Will the Budget 2024 be MSME friendly
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter