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Semiconductor engineering solutions provider Tessolve has signed a definitive pact to wholly acquire German semiconductor chip design firm Dream Chip Technologies for up to Rs 400 crore. US Election 2024 US Election News Live Updates State-wise voting times in IST & when to expect early trends US will make history. For the right reasons, or the wrong.
Srini Chinamilli, cofounder and chief executive officer of Tessolve told ET that the deal positions Bengaluru-based Tessolve among a select group of design firms worldwide capable of delivering turnkey design solutions for complex cutting-edge chips. He added that it also bolsters Tessolve’s ability to add advanced capabilities in System on Chip (SoC) designs to cater to the AI, automotive, data centre, and industrial markets. It will also serve to expand the company's European operations by adding four delivery sites across Germany and the Netherlands, including a specialised Advanced Driver Assistance Systems (ADAS) and imaging centre-of-excellence lab.
“Dream Chip’s capabilities further strengthen our ability to take on leading edge ASIC design projects and greatly enhance our European footprint,” Chinamilli said. Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program HR Human Potential and the Future of Employment By - Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader View Program Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program Web Development Advanced Java Mastery: Object-Oriented Programming Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
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ET reported on Tuesday that Hero Electronix , backed by Suman Kant Munjal, was planning to sell a 25-30% stake in Tessolve to cash in on growing investor appetite in the space. Chinamilli, on his part, however said Hero Electronix is a majority shareholder that is excited about the company's prospects and will remain a majority shareholder for years to come. "Hero Electronix is a majority shareholder in Tessolve and they are here for the long term," he said.
"They are not planning to get out of Tessolve anytime soon. They are committed to growth, and they are going to be with us. They're very excited about being part of Tessolve, so they'll be shareholders in our company for a long time.
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