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.