Infosys on Thursday announced a definitive agreement to acquire InSemi, a semiconductor design and embedded services provider. “This strategic investment further strengthens Infosys’ Engineering R&D capabilities and demonstrates its continued commitment to co-create with global clients to help them navigate their digital transformation journey,” the company said in a regulatory filing.
Semiconductors are at the heart of the technology which is driving exponential growth of Artificial Intelligence (AI), 5G, Hyperconnectivity, High Performance Computing, Quantum Technology, Virtual Reality, IoT and Smart Devices. This collaboration, it added, will help accelerate Infosys’ Chip-to-Cloud strategy, by bringing niche design skills at scale and will also pair seamlessly with existing investments in AI/Automation platforms and industry partnerships.
Founded in 2013, InSemi offers end-to-end semiconductor design services with expertise across electronic design, platform design, automation, embedded and software technologies. It serves global corporations across semi-conductor, consumer electronics, automotive, and hi-tech industries. InSemi is growing expeditiously and a team of over 900+ design specialists bring in the competitive advantage, agile mindset, and an innovative approach to build technology-led solutions that transform businesses. InSemi had recorded revenue for FY23 at Rs 153.6 crore and Rs 109.5 crore in FY22.
Dinesh R, EVP & Co-Delivery Head, Infosys, said, “Infosys has been a leader and at the forefront of delivering cutting edge solutions across industries with Engineering R&D services. With the advent of AI, Smart devices, 5G and beyond, electric vehicles, the demand for next-generation semiconductor design services integrated with our embedded systems creates unique differentiators. InSemi is a strategic investment as we usher in a next wave of growth and a leadership position in Engineering R&D.”
“Over the last five years, InSemi has built a foundation with solid growth and design capabilities across the semiconductor value chain. With Infosys as our catalyst, it creates a synergistic combination that allows us to scale and bring the power of AI & Engineering R&D and next-generation technology to global clients, expanding across industry sectors. We aim to further accelerate our progress and together with Infosys, it paves a path of innovation opening new opportunities for our teams,” said Shreekanth Sampigethaya & Arup Dash, Co-Founders, InSemi.
The acquisition is expected to close during the fourth quarter of fiscal 2024, subject to customary closing conditions, the company stated.