Cyient, a global player in intelligent engineering services, has made a strategic move by acquiring a 27.3% stake in Azimuth AI, a fabless custom ASIC company known for its expertise in energy-efficient and power solutions. This acquisition is a major step in Cyient’s semiconductor journey, further positioning it as a key player in the global and Indian semiconductor industry.
Krishna Bodanapu, Executive Vice-Chairman & Managing Director of Cyient, highlighted that the acquisition aligns with India’s push for domestic innovation in the semiconductor sector. “With India emerging as a hub for chip development, particularly in power and energy-efficient systems, this investment reinforces our commitment to building cutting-edge ASIC chips designed and developed in India for the world,” Bodanapu said.
Azimuth AI’s CEO, Praveen Yasarapu, expressed excitement about the collaboration, noting the complementary strengths of both companies. “We are eager to leverage Cyient’s deep expertise in ASIC design and their ability to deliver innovative solutions across industries. Together, we aim to push the boundaries of semiconductor technology,” Yasarapu stated.
This investment marks a significant milestone in Cyient’s strategy to expand its semiconductor capabilities, particularly in the development of next-gen power and energy solutions, positioning the company as a prominent player in the evolving semiconductor landscape.
