Redwood City-based Aricent acquired Bangalore-based product engineering services company SmartPlay Technologies.
The financial terms of the transaction were not disclosed.
The acquisition expand Aricent’s position in the semiconductor market, with more than 2,000 combined experts and relationships with top companies, its services and expertise to serve innovators accelerate development of software, hardware and network products for the Internet of Things.
Following the acquisition, Pradeep Vajram, co-founder and CEO of SmartPlay, will take on a new role as president of Aricent’s Semiconductor Business Unit. He reports to Frank Kern, Aricent’s chief executive officer.
SmartPlay currently serves 80% of the top 20 semiconductor companies with 1,200 employees and design expertise across semiconductors, embedded software and system design in India, Germany, Singapore and the U.S.
Investors in Aricent include KKR & Co. LP and Sequoia Capital.
FinSMEs
11/08/2015