Cyient said that it has acquired 27.3% stake in Azimuth AI for building application-specific integrated circuit (ASIC) chips and for strengthening semiconductor capabilities.
Azimuth AI is a fabless custom ASIC company known for its expertise in intelligent energy and power solutions.
Krishna Bodanapu, executive vice-chairman & managing director of Cyient, said: In July this year, we announced the strategic expansion of our Semiconductor business with the establishment of a fully owned subsidiary.
Investing in Azimuth AI strengthens our focus on building cutting-edge ASIC chips designed and developed in India for the world. It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions.
Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).
The scrip shed 0.70% to currently trade at Rs 1783.60 on the BSE.
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