HYDERABAD: International engineering providers participant Cyient has acquired a 27.3% stake in US-based Azimuth AI, a fabless customized ASIC firm that’s identified for its experience in clever vitality and energy options.
Cyient stated the strategic funding marks a major milestone in its efforts to broaden its capabilities and drive innovation throughout the semiconductor trade.
Cyient govt vice-chairman & managing director Krishna Bodanapu stated the acquisition will improve the corporate’s capabilities within the essential semiconductors house whereas reinforcing its dedication to next-gen energy and vitality options.
“In July this yr, we introduced the strategic enlargement of our semiconductor enterprise with the institution of a completely owned subsidiary. Investing in Azimuth AI strengthens our deal with constructing cutting-edge ASIC chips designed and developed in India — for the world.”
“Pushed by the Indian authorities’s initiatives to spice up home innovation in semiconductors, India is rising as a hub for chip growth, particularly in energy and energy-efficient methods,” he added.
Pointing to the synergies between the 2 corporations, Azimuth AI founder & CEO Praveen Yasarapu stated, “We’re wanting to leverage Cyient’s deep experience in ASIC design, coupled with their confirmed potential to ship high-quality, modern options throughout a number of industries. Collectively, we goal to ship groundbreaking options that can push the boundaries of semiconductor expertise for the worldwide in addition to Indian market.”
