On Monday, Cyient announced its acquisition of a 27.3% stake in Azimuth AI, a fabless custom ASIC company. This strategic investment signifies a crucial step in Cyient’s semiconductor journey and reflects the company’s ongoing commitment to driving accelerated growth within this vital industry.
Krishna Bodanapu, Executive Vice-Chairman and Managing Director of Cyient, emphasized the importance of this investment by highlighting the Indian Government’s initiatives aimed at fostering domestic innovation in semiconductors. He stated, “India is emerging as a hub for chip development, especially in power and energy-efficient systems. In July this year, we announced the strategic expansion of our Semiconductor business with the establishment of a fully owned subsidiary. Investing in Azimuth AI strengthens our focus on building cutting-edge 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.”
Praveen Yasarapu, Founder and CEO of Azimuth AI, expressed excitement about the collaboration, noting, “We are pleased to embark on this journey with Cyient. The synergies between our companies are clear, and we are eager to leverage Cyient’s deep expertise in ASIC design, coupled with their proven ability to deliver high-quality, innovative solutions across multiple industries. Together, we aim to deliver groundbreaking solutions that will push the boundaries of semiconductor technology for both the global and Indian markets.”
This acquisition not only strengthens Cyient’s position in the semiconductor sector but also underscores its strategic vision to be at the forefront of technology and innovation in India, paving the way for advancements in power and energy-efficient systems. As the semiconductor industry continues to evolve, partnerships like this one are crucial for developing next-generation solutions that meet the growing demands of the market.
