Hero Electronix engaged in Phase-Wise Acquisition, to Acquire Majority Stake in Tessolve Semiconductors
India: Hero Electronix Private Limited, an India-based company has acquired Bengaluru based Tessolve Semiconductor. Tessolve Semiconductor specializes in offering engineering services in semiconductor design, test/product engineering, PCB design, failure analysis, systems design, etc.
The company and its subsidiaries plans to invest INR1,000-1,200 crore in coming years over a period of five-seven years. The company has made its second acquisition since its establishment to support government's Digital India initiative, and thus to capture the opportunities emerging out of digital transformation in India. The company has plans to diversify its business presence in India across the semiconductor value chain Internet of Things (IoT) platforms, defence electronics, and other electronic component and services. has
According to company's founder director Ujjawal Munjal, "The company focuses on partnerships with IP-driven engineering businesses, instead of low-cost engineering services. The company has acquired majority stake in Tessolve Semiconductors, having businesses in India, US, Malaysia and Singapore. This acquisition will be done in phases, and would be complete by the year-end."
TechSci Research depicts that acquisition of majority stake in Tessolve Semiconductors by Hero Electronix would not only focus on strengthening testing capabilities, but also would expand brand reach and improve operational efficiency.
TechSci Research, a marketing and consulting firm has recently published report, "India Chipset Market Forecast and Opportunities, 2020 By Application (Computers & Laptop Chipsets, Mobile Phone Chipsets, Other), By Region", market for chipset in India is estimated to witness growth at a CAGR of over 25% during 2015-20, where Northern and Southern parts of India would emerge as leading market for chipsets in India. Rising demand for electronic devices, growth in establishment of new manufacturing units along with implementation of favourable government initiatives is propelling growth in India's chipset market.
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