New Delhi, April 8 Cyient Semiconductors announced on Wednesday that it has completed the acquisition of a 74 per cent stake in US-based power semiconductor solutions provider, Kinetic Technologies, for USD 85 million.
In a regulatory filing, the Hyderabad-headquartered company stated that Kinetic Technologies will continue to operate under its existing leadership.
"Cyient Semiconductors Singapore Pte Ltd, a wholly-owned subsidiary of Cyient Semiconductors Private Limited, has successfully completed the acquisition of a majority stake of 74 per cent (on a fully diluted basis) in Kinetic Technologies for a consideration of USD 85 million," the filing read.
Kinetic brings over 100 silicon-proven IPs and more than 250 high-volume, custom and application-specific standard products (ASSPs) to the table.
By integrating Cyient Semiconductors' spec-to-silicon engineering capabilities with Kinetic Technologies' portfolio of power management and protection integrated circuits, the combined platform enhances Kinetic Technologies' capacity to serve global customers with expanded design resources and stronger operational capabilities, while providing Cyient Semiconductors with access to Kinetic's established customer base and existing commercial footprint, the company said.
"The completion of this majority stake investment accelerates our ambition to build a globally competitive semiconductor innovation engine from India. Kinetic Technologies' proven leadership in power and protection ICs, combined with our custom silicon and ASSP expertise and access to world-class talent and manufacturing ecosystems, positions us to drive the next wave of intelligent power semiconductor solutions across critical markets," Cyient Semiconductors CEO Suman Narayan said.