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Cyient Acquires Stake in Azimuth AI to Enhance Semiconductor Capabilities

• ByStartupStory     |    October 28, 2024

Cyient, a global leader in Intelligent Engineering services, has announced the acquisition of a 27.3% stake in Azimuth AI, a fabless custom ASIC company renowned for its expertise in intelligent energy and power solutions. This strategic investment is a pivotal step in Cyient’s semiconductor journey, highlighting the company’s commitment to fostering accelerated growth in this vital sector.

Krishna Bodanapu, Executive Vice-Chairman & Managing Director of Cyient, commented on the acquisition, stating, “Driven by the Indian Government’s initiatives to boost domestic innovation in semiconductors, India is emerging as a hub for chip development, especially in power and energy-efficient systems. In July this year, we announced the strategic expansion of our Semiconductor business with the establishment of a fully owned subsidiary. Investing in Azimuth AI strengthens our focus on building cutting-edge ASIC chips designed and developed in India — for the world. It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions. We look forward to this partnership.”

Praveen Yasarapu, Founder and CEO of Azimuth AI, expressed enthusiasm about the collaboration, stating, “We are pleased to embark on this journey with Cyient. The synergies between our companies are clear, and we are eager to leverage Cyient’s deep expertise in ASIC design, coupled with their proven ability to deliver high-quality, innovative solutions across multiple industries. Together, we aim to deliver groundbreaking solutions that will push the boundaries of semiconductor technology for the global as well as Indian market.”

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