Cyient Semiconductors has entered into an agreement to acquire a controlling stake in Kinetic Technologies. Expected to close in the months ahead, the acquisition can involve a transaction of up to $93 million. The existing leadership and engineering team within Kinetic Technologies will continue operating within their current structure, while synchronizing with Cyient Semiconductors' strategy and board oversight, so that customers, partners, and employees aren’t subjected to disruptions.
Suman Narayan, CEO of Cyient Semiconductors, said, “Combining Kinetic’s power management and protection IC depth with Cyient Semiconductors’ custom ASIC engine materially strengthens our platform strategy catering to exploding AI demands.” The company believes that this step is transformational as it aligns with their ambition to establish India’s first ‘ASIC-led custom power semiconductor powerhouse’. The acquisition positions it to expand its footprint in the power semiconductor industry, driving growth across data centers, electrification, automotive, networking, industrial automation, and edge AI computing.
While acknowledging the talent and potential in India’s chip market, Kin Shum, CEO, Kinetic Technologies, said, “The Indian market is at the cusp of disruption in semiconductor, like how other Asian countries were 10 – 15 years ago, and being part of that journey is exciting.”
