This follows GlobespanViratas acquisition by semiconductor solutions company Conexant. Following this acquisition, Conexant will have a combined market capitalisation of $2.8 billion.
GlobespanVirata will continue to be called by its current name till the transaction is completed in the first quarter of calendar 2004, GlobespanVirata president Vivek Bansal said.
Announcing the plans on Wednesday, Mr Bansal said, We plan to invest $15-20 million in our Noida R&D centre over the next 18-24 months to expand operations which would also see the centre growing to a 500-professional centre during the same period from the current strength of around 95.
The increased investment is for scaling up to VLSI (very large scale integration) and systems software development, Mr Bansal added.
The company is actively pursuing acqusition of Indian companies present in the VLSI and systems software sector and is currently in talks with several companies. We are looking at acquiring smaller Indian companies with around 25-100 engineers, he said.