L&T’s semiconductor tech to acquire Bengaluru-based SiliConch Systems

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Public TV English
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NEW DELHI: L&T Semiconductor Technologies Ltd, a wholly owned technology arm of Larsen and Turbo, on Tuesday announced it will acquire Bengaluru-based SiliConch Systems Pvt Ltd.

The company informed the exchanges that L&T Semiconductor Technologies Ltd has entered into a Share Purchase Agreement on July 8, 2024, for the acquisition of 100 per cent stake in SiliConch Systems Private Limited. The acquisition of SiliConch is expected to be completed by September 15, as per the filing.

L&T Semiconductor Technologies said that the acquisition will add IP, engineering skillsets and design expertise to strengthen the group’s presence in the fabless semiconductor business and thus align with the overall growth strategy of LTSCT.

For the acquisition of the SiliConch Systems, the L&T arm will pay Rs 133 crore for 100 per cent of the company’s equity. A deferred amount of Rs 50 crore, payable over 4 years, will also be paid, subject to closing adjustments and achievement of certain targets and other conditions, as per the information in the filing.

Bengaluru-based SiliConch Systems specialises in transforming pre-silicon products with a focus on delivering mixed-signal solutions in power management and high-speed input/output (I/O) applications, as per the information available on its LinkedIn page. The company is a proactive contributor to the USB Implementers’ Forum (USB-IF) standards, ensuring that its products adhere to the latest industry specifications and innovations.

According to the company, one of its notable offerings is cutting-edge solutions for the USB Type-C ecosystem. USB Type-C is a reversible connector that supports various protocols and delivers power, data, and video signals through a single cable.

The company is currently offering the industry’s first multi-port USB Type-C Power Delivery IP solution to SoC vendors, as per SiliConch Systems. The end customers of IPs delivered by SiliConch are OEMs and/or fabless IC companies, primarily in the US, who provide power management systems for smartphones, PCs, automotive, IoT, and accessories.

SiliConch, with 30 granted patents across geographies, generates revenue primarily as non-recurring engineering (NRE) revenue and license fees. In FY 2023-24 the company’s turnover stood at 27.68 crore, while the turnover in FY21-22 and FY22-23 was 11.02 and 19.97 respectively. (ANI)

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