Accenture, a global IT services giant, has acquired Bengaluru-based Excelmax Technologies, a semiconductor design services firm, to enhance its silicon design and engineering capabilities. The financial terms of the transaction were not disclosed. Excelmax provides custom silicon solutions for consumer devices, data centers, artificial intelligence (AI), and computational platforms supporting edge AI deployments, catering to clients in the automotive, telecommunications, and high-tech industries.
Mahesh Zurale, Global Lead of Advanced Technology Centers Global Network at Accenture, stated that the acquisition will add approximately 450 highly skilled silicon professionals to the company’s Advanced Technology Centers in India. These professionals will specialize in emulation, automotive, physical design, analog, logic design, and verification, enhancing Accenture’s ability to accelerate edge computing innovation for global clients. Accenture currently employs around 750,200 people worldwide.
Zurale highlighted India’s growing significance in chip design due to the rising global demand for silicon solutions. Expanding the skilled talent pool in India across various aspects of silicon design will help Accenture enhance its capabilities and drive innovation for its clients globally. This acquisition follows Accenture’s purchase of XtremeEDA, a Canadian silicon design services firm, in 2022.
Accenture has been on an acquisition spree, spending $2.3 billion on twelve acquisitions in the December quarter of the last fiscal year. The company made five acquisitions in May and four in April, totaling 35 acquisitions worth $5.2 billion in the last fiscal year, more than double the $2.5 billion spent in FY23. According to a report by Nuvama, Accenture’s revenue growth guidance includes an inorganic contribution approaching 3% in FY24, with overall growth expected to be 1.5-2.5%.
The global semiconductor market is experiencing a surge in demand for silicon design engineering, driven by the proliferation of data centers, the increasing use of AI and edge computing, and a growing consumer appetite for electronics. Accenture sees the rapid evolution of technologies like generative AI and the growth of connected products as driving the need for more intricate, specialized chips with enhanced performance and efficiency. The acquisition of Excelmax is expected to bolster Accenture’s expertise across all aspects of silicon design and development, from concept to production, helping clients drive innovation and growth.
Excelmax, founded in 2019, offers comprehensive semiconductor solutions from high-level design to detailed physical layout ready for manufacturing, and full turnkey execution. Shekhar Patil, founder and CEO of Excelmax, emphasized that joining Accenture will enable the company to remain at the forefront of innovation, providing new and exciting opportunities for clients and employees alike.
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