Infosys Ltd. will acquire semiconductor design and embedded services provider InSemi Technology Services Pvt. to strengthen its engineering research & development capabilities.
The strategic investment will be undertaken at a cost of Rs 280 crore and its demonstrates the company's commitment to co-create with global clients to help them navigate their digital transformation journey, according to an exchange filing on Thursday.
The collaboration with InSemi will help Infosys accelerate the chip-to-cloud strategy, and set up comprehensive end-to-end product development for clients, it said.
The acquisition is expected to be completed during the fourth quarter of the current financial year, the IT major said.
With the advent of artificial intelligence, smart devices, 5G and beyond, the demand for next-generation semiconductor design services integrated with the embedded systems creates a unique differentiator, according to Dinesh R, co-delivery head at Infosys.
"InSemi is a strategic investment as we usher (in) a next wave of growth and a leadership position in Engineering R&D," he said.
InSemi offers end-to-end semiconductor design services, with expertise across electronic design, platform design, automation, embedded and software technologies.
"With Infosys as our catalyst, it creates a synergistic combination that allows us to scale and bring the power of AI and engineering R&D and next-generation technology to global clients," InSemi co-founders Shreekanth Sampigethaya and Arup Dash said.
Shares of Infosys closed 1.62% lower at Rs 1,495 apiece on the BSE, as compared with a 0.09% advance in the benchmark Sensex after the announcement.
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