Leading software company Infosys Ltd announced its plans to acquire InSemi, a prominent semiconductor design and embedded services provider, for a sum of Rs 280 crore. The acquisition, involving InSemi with a revenue of Rs 153.6 crore, is anticipated to conclude in the fourth quarter of fiscal 2024, pending the fulfillment of customary closing conditions.
In a regulatory filing, Infosys detailed the financial aspects of the deal, stating, "Consideration including earn-outs, and management incentives, and retention bonus totaling up to INR 280 crores subject to customary closing adjustments."
InSemi, headquartered in Bengaluru, boasts a substantial workforce, with over 900 individuals contributing to its operations. As Infosys adds this semiconductor design and embedded services provider to its portfolio, the move reflects the company's strategic efforts to enhance its capabilities and diversify its offerings in the dynamic technology landscape. The acquisition aligns with Infosys's vision to stay at the forefront of innovation and address evolving industry demands.
(With Agency Inputs)
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