In a significant development on January 11, Infosys witnessed a surge of more than 5% following its announcement of acquiring InSemi, a prominent semiconductor design and embedded services provider. The IT giant is set to acquire a 100% stake in InSemi for a sum of Rs 280 crore.
In a press release accompanying its December quarter financial results, Infosys expressed that this strategic investment aims to bolster the company’s engineering R&D capabilities. The move underlines Infosys’ unwavering commitment to collaborating with global clients and facilitating their digital transformation journeys.
Semiconductors, the integral components of electronic devices ranging from toys to smart gadgets, are currently in the limelight. Companies are actively engaged in the race to develop advanced chips, capitalizing on the artificial intelligence (AI) boom – the next frontier in technology.
As of 9:31 am the shares were trading 6.08% higher at ₹1,585.00
