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In order to expand its fabless semiconductor capabilities, Bengaluru-based SiliConch Systems will be strategically acquired by Larsen & Toubro (L&T) on Tuesday for a sum of Rs 183 crore.
The conglomerate's wholly-owned subsidiary L&T Semiconductor Technologies Ltd. signed a share purchase agreement on July 8, 2024. With an initial payment of Rs 133 crore and a deferred amount of Rs 50 crore payable over four years, subject to specific milestones and circumstances, the transaction is expected to finalise by September.
The principal sources of income for SiliConch Systems are licence fees and non-recurring engineering services. The company serves Original Equipment Manufacturers (OEMs) and fabless integrated circuit (IC) firms, the majority of whom are located in the United States. These clients use the intellectual property from SiliConch to create power management apps for automobiles, accessories, and smartphones.
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Founded in April 2016, SiliConch Systems is a semiconductor intellectual property (IP) and integrated circuit (IC) development and design specialist. It is a fabless semiconductor design company with thirty patents in different countries.
It is anticipated that this acquisition will strengthen L&T's position in the semiconductor ecosystem, which includes developing, producing, and testing semiconductors. L&T hopes to improve its portfolio with cutting-edge semiconductor technology and solidify its place in the market by incorporating SiliConch's cutting-edge intellectual property and IC design skills.
About SiliConch Systems
Founded in 2015 by Vishnu Mohan Pusuluri, Vinay Patel, Polasa Rakesh, Kaustubh Kumar, Jaswanth Ammineni and Abhishek Sardeshpande, SiliConch Systems is a semiconductor Product company based in Bengaluru. We are a team of engineers who have a passion for trans-formative work in Pre-silicon products focusing on delivering Mixed-signal solutions in Power Management and Hi-speed IOs.
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