InSemiTech, a leading Bengaluru-based Research and Development and Engineering services company, today announced that it acquired two leading engineering services compes, Ambit Semiconductors Pvt Ltd and Semtosys Pvt Ltd.
These acquisitions reinforce InSemiTech's technology expertise and market leadership in a rapidly consolidating semiconductor and embedded space.
The acquisition of Ambit elevates InSemiTech's Research and Development capabilities to spur innovation and strengthen service offering for customers. Founder and CEO of Ambit Semiconductors, J Saseendra would join InSemiTech leadership team. The acquisition of Semtosys, a leading service provider in Foundation IP and Semiconductor space will invigorate InSemiTech's industry leadership in these areas.
"As the world is witnessing the biggest business transformation since industrial revolution and digital technologies are disrupting the way people live all across the globe, we see great potential for our solutions in electronics design, automation, platform design and embedded technologies. As orgzations are striving to ensure business continuity in the current conditions, we witnessed an upsurge in demand for our solutions," said Arup Dash, CEO of InSemiTech.
"With the current growth rate, we expect to double our size and revenue by the end of 2020. I strongly believe these acquisitions will be a key catalyst in achieving our business goals and a great advocate in our vision to accelerate product innovation for our customers," added Dash.
"Ambit's passion to innovate in Semiconductor and IP Design will get new strength by combining with InSemiTech. It is through innovation and value addition as a company Ambit distinguishes itself from the competition. We are excited to operate jointly with a company that deems in success through customer satisfaction, transparency and values," said J Saseendra, CEO of Ambit.
With this acquisition, InSemiTech is all set to meet the growing customer demand and continue to support cutting-edge technology development with deep expertise in semiconductor and embedded technologies.
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( With inputs from ANI )