L&T Semiconductor to Acquire SiliConch for ₹133 Crore

L&T Semiconductor Tech, a wholly owned subsidiary of L&T, has entered into an agreement to acquire SiliConch Systems for an upfront payment of ₹133 crore, with an additional deferred payment of ₹50 crore to be made over the next four years. This announcement was made by the company in an exchange filing on July 9.

According to the company, this acquisition is set to enhance the Group's intellectual property, engineering capabilities, and design expertise, thereby bolstering its presence in the fabless semiconductor sector and aligning with L&T Semiconductor's overall growth strategy.

SiliConch, a fabless semiconductor design firm based in Bangalore, was established in April 2016. It focuses on developing System-on-Chip IP and Integrated Circuits (IC). The company employs 61 people and holds 30 patents internationally.

L&T Semiconductor Technologies (LTSCT), as a fully owned subsidiary of L&T, is recognized as India's first major fabless semiconductor product company. It specializes in designing and delivering smart devices for global customers, offering semiconductor devices and technology partnerships to help clients create energy-efficient, high-performance systems, taking advantage of data, electrification, and software-defined technology trends.

With a track record of filing 1,296 patents for 57 of the Global Top 100 ER&D spenders, LTTS is deeply entrenched in engineering innovation. Noteworthy achievements include the development of the world’s first autonomous welding robot, a solar ‘connectivity’ drone, and the world’s smartest campus.

LTTS excels in various engineering disciplines, from design and product development to smart manufacturing and digitalization, impacting everyday life. Operating 104 innovation and R&D design centers globally, LTTS focuses on cutting-edge technologies such as next-generation communications, artificial intelligence, collaborative robots, digital factories, and autonomous transport.