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Cyient, a global engineering services company, has acquired a stake of 27.3 per cent in Azimuth AI, a fabless custom ASIC (application-specific integrated circuit) company.
The shares of Cyient Limited were trading at ₹1,781.25 down by ₹16.85 or 0.94 per cent on the NSE today at 12.25 pm.
The investment aligns with India’s initiatives to boost domestic semiconductor innovation and follows Cyient’s establishment of a fully owned semiconductor subsidiary in July 2024.
“Investing in Azimuth AI strengthens our focus on building ASIC chips designed and developed in India - for the world. It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions. We look forward to this partnership,” Krishna Bodanapu, Cyient’s Executive Vice-Chairman and Managing Director, has said.
The Hyderabad-based company floated a wholly owned semiconductor subsidiary early this year.
Praveen Yasarapu, Founder and CEO of the US-based Azimuth AI, said the synergies between the two companies has the potential to deliver groundbreaking semiconductor solutions. The partnership aims to combine Cyient’s ASIC design expertise with Azimuth AI capabilities to create semiconductor solutions for both Indian and global markets.
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