MosChip Semiconductor Technology, a Hyderabad-based leading semiconductor company, has signed final agreements for the acquisition of three companies- elitePLUS Semiconductor Technologie, and Orange Semiconductors, both located in Bangalore, India, as well as Maven Systems of Pune, India. MosChip has made the acquisitions as part of the company’s growth plans in the Internet of Things (IoT) area and semiconductor industry as well as to expand client base in the NA, EU, and APAC regions.
elitePLUS Semiconductor Technologies has significant presence in the US and UK, and the company’s core competencies are focused on advanced verification, mixed signal, and low power verification. Orange Semiconductor provides offerings in verification, very-large-scale integration (VLSI) services, and embedded software. The acquisitions of elitePLUS Semiconductor Technologies and Orange Semiconductor will strengthen MosChip’s end-to-end capabilities in VLSI services by adding more than 75 experienced resources in Bangalore. Maven Systems has several award-winning product and service offerings in M2M, IoT domains of remote monitoring, smart lighting, smart metering, smart cities and analytics with clients in more than 20 countries. Maven Systems is part of the growth strategy to allow MosChip to be a leading player in the IoT area.
The three acquisitions will help MosChip to increase the company’s global headcount to more than 250 experienced engineers across Hyderabad, Bangalore, and Pune in India; London; and Silicon Valley. MosChip also plans to add another 150-200 engineers across all locations. With multiple orders from the defense market and clients in the US, MosChip is set to record a very positive top and bottom line for the current fiscal year.
The consolidated top line along with the acquisitions may show more than ten times the sales of previous years. To fund the acquisitions and additional working capital requirements, MosChip obtained Board approval to raise an additional Rs 41.25 crore (approximately $6.15 million) by issuing shares and warrants to Techwave.
MosChip Semiconductor Technology is the first public listed semiconductor design services company with more than 15 years of extensive design experience in markets, such as aerospace and defense, consumer electronics, networking and telecommunications, mobile communications, IoT, and semiconductor industries.