Cyient (Estd: 1991, NSE: CYIENT), a Hyderabad, India-based intelligent engineering services company, acquired a 27.3% stake in Azimuth AI, a custom ASIC company.
The amount of the deal was not disclosed.
Led by Praveen Yasarapu, Founder and CEO, Azimuth AI is a fabless custom ASIC company known for its expertise in intelligent energy and power solutions.
Cyient is a provider of intelligent engineering solutions for creating a digital, autonomous, and sustainable future to over 300 customers, including 30% of the top 100 global innovators. In July 2024, the company announced the strategic expansion of its Semiconductor business with the establishment of a fully owned subsidiary.
This investment enables Cyient to strengthen its focus on building ASIC chips designed and developed in India and its capabilities in this space.
FinSMEs
29/10/2024