- The procurement of the firm, which had total revenues of INR 2 crore in FY 2019, is expected to be completed by October’s first week.
- This acquisition delivers an opportunity to integrate analog strength of Sankalp with Digital SOC expertise of HCL to obtain a prominent share in VLSI Design Services Market.
HCL Technologies, global IT service and consulting company headquartered in Noida, Uttar Pradesh, reportedly announced the acquisition of Sankalp Semiconductor, an advanced technology service provider founded in 2005, in an all-cash agreement for a total of INR 180 crore to procure a 100% stake in the company.
The procurement of the firm, which had total revenues of INR 141.2 crore in FY 2019, is expected to be completed by October’s first week.
HCL Technologies stated that this acquisition deal gives the company an opportunity to integrate analog strength of Sankalp with the Digital SOC expertise of HCL to obtain a prominent share in VLSI Design Services Market.
GH Rao, President of R&D and Engineering Services, HCL Technologies stated that Sankalp will complement the strong semiconductor offerings of the company and will help it in offering a wider range of facilities to the company’s customers in the Mixed and Analog signal space. Rao added that Sankalp will work as 100% subsidiary of the company.
HCL Technologies stated that Sankalp also offers end-to-end resolutions in Internet of Things (IoT), consumer, medical electronics, automotive, wireless and networking domains. This strategic procurement would allow HCL to further expand across newer market-domains, particularly in mixed and analog signal design with the R&D and Engineering Services industry.
Samir Patel, CEO of Sankalp Semiconductor stated that the strategic acquisition would allow synergies among engineering teams allowing the company to provide a wider semiconductor know-how, to a broader array of customers. Patel added that the integrated forces would allow deeper engagements with consumers in the end-to-end mixed and digital signal design space.