Temasek-backed UST Global Acquires SeviTech, A Bangalore-based Chip Design Startup
SeviTech will be retained as an independent entity and positioned as an expert in the pre-silicon engineering services business. It will continue to operate as a subsidiary of UST Global.
The acquisition will bring in the advanced technology and deep end-market expertise of the two companies, delivering advanced end-to-end solutions to global semiconductor manufacturers. The acquisition reinforces UST Global’s strength and focus in India, and elevates its position as a world’s most premium VLSI solutions provider, and a market leader in pre-silicon engineering.
Founded in 2013, by Prabhu Bhairi, Ashish Gupta, Shekhar Sharma and Anil Dalwani, SeviTech is one of fastest growing chip design (VLSI) Services Company, working with top IC design companies. The company has about 350 employees expertizing in end-to-end ASIC (Application Specific Integrated Circuit) design and embedded solutions. SeviTech has RnD centres in Bangalore and Hyderabad. In 2017, the company was recognized as the 50 best startups to work for by Silicon India.
UST Global had recently raised $250 million from Singapore’s sovereign wealth fund Temasek, in June this year, valuing it at over $1 billion. SeviTech is UST’s third acquisition so far. In 2012, the company had acquired Andare, a company engaged in developing mobile solutions for large enterprise CRM applications. This was followed by acquisition of Kanchi Technologies, a company with primary focus in Engineer Services, in 2014.
UST Global’s Semiconductor business provides an end-to-end engineering and technology services that support the entire silicon lifecycle for original device manufacturer (ODM), original equipment manufacturer (OEM), integrated hardware vendor (IHV), and ASIC (Digital & Full Custom) Design, Verification & Implementation, FPGA implementation along with embedded software development. With the added capabilities and teams from SeviTech, the company will now be able to cater to the large volume of demand from global semiconductor manufacturers.
Commenting on the acquisition, Gilroy Mathew, Global Head of Semiconductor and Head of APAC, UST Global, said “Globally, our semiconductor business has seen an inspiring and phenomenal growth over the years. The acquisition of SeviTech is an integral part of our plan to strengthen our Technical Centers of Excellence providing RTL to GDSII solutions to our customers globally. With this acquisition, UST is now placed as a leader with expertise in delivering low power, high-performance chipset solutions for Automotive, Communication, Storage and other industries. The acquisition not only reinforces our VLSI capabilities but also highlights the company as an industry powerhouse focused on the high growth opportunities in the silicon world.”
“The global presence of UST Global coupled with strong ASIC engineering teams of SeviTech Systems positions us to provide innovative solutions to customers worldwide. It enhances our service portfolio and strengthens our position with customers for the end-to-end chip design solutions,” said Prabhu Bhairi, CEO & Co-Founder, SeviTech Systems.
To ensure the continued strong growth of SeviTech and a mutually beneficial association for both parties going forward, UST Global will maintain SeviTech as an independent entity and positioning it further as an expert in pre-silicon engineering services business. SeviTech will continue to operate as a subsidiary of UST Global.
To recall, in this month only Intel has acquired Indian entrepreneurs founded NetSpeed Systems, a San Jose, California-based provider of system-on-chip design tools and interconnect fabric intellectual property.
Source: IndianWeb2
To Read Our Daily News Updates, Please visit Inventiva or Subscribe Our Newsletter & Push.
