Hero Electronix - part of the $5-billion Hero Group - on Tuesday announced the acquisition of the analog design business of Bengaluru-based AnalogSemi (Analog Semiconductors).
The acquisition was made through Tessolve, a Hero Electronix venture and provider of engineering services. The acquisition adds to Tessolve's analog design services offering and strengthens its capabilities as an end-to-end provider of engineering services. Hero Electronix and its group companies aim to build engineering-led businesses in technology and electronics. Hero Electronix's revenue at the end of FY 2017 stood at Rs 600 crore; Tessolve was a key contributor, growing at 40% CAGR.
"We are building Tessolve into the largest semiconductor engineering services player in the world. This is the fourth acquisition in the past 18 months since our inception. The latest acquisition of the analog business, along with the earlier acquisitions of the embedded business of TES DST, Malaysia's Spectrum Integrated Technologies and the test lab business of Singapore's Lynxemi, add to Tessolve's ability to offer a more comprehensive solution to its customers," Hero Electronix CEO Nikhil Rajpal said,
Analog chips are key components of most electronic systems. Demand for analog design is growing with the proliferation of semiconductors in one's daily life, starting from mobile phones, home entertainment all the way to IoT and automotive industries.
Hero Electronix and Tessolve lay strong emphasis on diversification, moving from offering semiconductor test engineering services to becoming a complete solutions provider. Tessolve is now strongly positioned as a leading end-to-end semiconductor engineering solutions provider â€“ from chip design, test and PCB engineering through embedded systems development.