In a strategic move, the engineering solutions firm, Cyient (NSE: CYIENT) is all set to establish a fully owned subsidiary to expand its semiconductor business.
Speaking on the occasion, Krishna Bodanapu, Executive Vice Chairman & Managing Director of Cyient Limited, said, “We are excited to announce this strategic initiative that enhances our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasting the industry’s growth to USD 100 billion by 2030, we are well-positioned to capitalize on the vast opportunities for growth and influence in this evolving market.”
He further stated, “Cyient’s credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled us to set-up this subsidiary to drive a dedicated focus on turnkey ASIC design and chip sales through a fabless model for analog mixed-signal chips. This subsidiary ushers a new avenue of possibilities for Cyient to enhance value to our stakeholders and we are grateful for their continued support in this journey.”
Cyient has a portfolio of 600+ IPs covering a range of functions and technology nodes. It’s long-standing engagements with key customers, and global capabilities provide Cyient with an edge to achieve significant growth.
The new subsidiary will add muscles to its position in the industry. It will deliver specialized turnkey ASIC design and chips sales under focused leadership, adapting to market cycles and addressing the industry’s technology and capital requirements.
