L&T Semiconductor Technologies to Acquire 100% Stake in Siliconch Systems

July 11, 2024600 Views L&T, M&A, Semiconductors, Takeover

L&T Semiconductor Technologies Ltd. (LTSCT), a wholly-owned subsidiary of Larsen &Tuobro, will acquire 100% stake in Bengaluru-based Siliconch Systems Private Ltd. In a stock filing dated 9th July 2024, L&T stated that LTSCT signed a share purchase agreement with Siliconch Systems on 8th July 2024.

L&T will pay Rs. 133 crore for complete equity ownership of Siliconch Systems, along with a deferred amount of Rs. 50 crore. This amount of Rs. 50 crore will be payable over four years, contingent on “closing adjustments and the achievement of certain targets and other conditions”.

This takeover is expected to enhance the Group’s capabilities by adding intellectual property, engineering skills, and design expertise in the fabless semiconductor sector. This acquisition is expected to be finalized by 15th September 2024.

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