Moschip Technologies has signed Share Purchase Agreement to acquire Softnautics Inc, a California based company with a focus on Product Engineering Solutions in Embedded, FPGA and VLSI. Softnautics has offices in California and India (Pune and Ahmadabad). The acquisition of Softnautics brings highly complementary set of engineering skills, customers, markets & world-class talent along with leadership. Softnautics has established strong customer relationships with top-tier companies across North America and will add 185+ employees to current MosChip talent pool across various domains.
This acquisition will also expand the company’s geographical presence with office in Hyderabad, Bangalore, Pune, and Ahmadabad besides further augmenting presence in North America, which will result in broader access to talent pool. The acquisition which will be completed during next quarter is expected to be EBIDTA accretive and generate free cash flow starting from very first year. The total cost of acquisition is $17.25 million to be paid 52.6% in Swap Shares and 47.4% in cash over a period.
Moschip Technologies is a leading Semiconductor & Embedded design services & Solutions company.
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