- Stock Market Live News Today: Nifty, Sensex gain over 2% each; bank, metal stocks shine
- RBI Monetary Policy Review: Top 20 statements from Governor Shaktikanta Das' MPC address
- 5G rollout: Xiaomi India shares big update on data packs, plans, bundled offers | Interview
- RBI Monetary Policy: Offline Payment Aggregators come under regulatory purview; on parity now with online peers
- Twitter shares update to make video experience better - Step-by-step guide
Hero Electronix acquires analog design biz of AnalogSemi
Hero Electronix, the electronics and technology venture of the Hero group, today announced acquisition of analog design business of Bengaluru-based Analog Semiconductors.
The acquisition - whose financial details have not been disclosed - was made through the company's engineering services venture, Tessolve, Hero Electronix said in a statement.
It adds to Tessolve's analog design services offering and strengthens its capabilities as an end-to-end provider of engineering services, the company added.
Hero Electronix CEO Nikhil Rajpal said: "We are building Tessolve into the largest semiconductor engineering services player in the world. This is the fourth acquisition in the past 18 months since our investment."
This along with the earlier acquisitions of the embedded business of TES DST, Malaysia's Spectrum Integrated Technologies and test lab business of Singapore's Lynxemi, add to Tessolve's ability to offer a more comprehensive solution to its customers, he added.
Analog Semiconductors (AnalogSemi) team has extensive expertise across different industry verticals and has successfully delivered over 70 silicon proven IPs, which are in production today by various semiconductor companies, the statement said.
"Tessolve's diversified offering will add significant value to our aggressive growth plans to become an industry leader in Analog design," Analog Semiconductors CEO and Founder Somashekhar Basavaraj said.
Hero Electronix had a revenue of Rs 600 crore in 2016-17 fiscal.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.