HCL Technologies To Acquire Sankalp Semiconductor For Rs 180 Crore
Bloombergquint.com - Mon 9 Sep 20:32 GMT

HCL Technologies said it will acquire Sankalp Semiconductor, an advanced technology design services provider, for Rs 180 crore.

  Information technology services company HCL Technologies Ltd. on Monday said it will acquire Sankalp Semiconductor, an advanced technology design services provider, for Rs 180 crore.

  This strategic acquisition would enable HCL to further expand into newer market-domains, especially in analog and mixed signal design, a statement said.

  "Sankalp's capabilities, combined with HCL's existing strengths, will help HCL sustain its leadership position in the semiconductor space within the engineering and R (research and development) services industry," it said.

  "Sankalp will complement our strong semiconductor offerings and help offer a wider range of services to our customers in the analog and mixed signal space," HCL Technologies President (Engineering and R Services) GH Rao said.

  Sankalp will operate as a 100 percent subsidiary of HCL, he added.

  "The strategic acquisition will enable synergies between engineering teams, allowing us to offer a broader semiconductor know-how to a wider variety of customers.

  The joined forces will enable deeper engagements with customers in the end-to-end digital and mixed signal design space," Sankalp Semiconductor Chief Executive Officer Samir Patel said.