Electronics

India Sees a New Wave of Semiconductor Companies Acquisition in 2024

india sees a new wave of semiconductor companies acquisitions

India is witnessing a significant transformation in its semiconductor industry, marked by a wave of Indian semiconductor company acquisitions that are reshaping the landscape. BTW we have written a whole article on how 2024 has been so special for Indian semiconductor industry , if you want to read you can click here .

These developments are crucial as semiconductors form the backbone of modern technology, fueling innovations in artificial intelligence (AI), 5G, and the Internet of Things (IoT). In this article we will try to explore the recent trend of semiconductor company acquisitions in India, starting with Infosys’s acquisition of Insemi in early 2024, and proceeding with the recent acquisitions of ExcelMax and Siliconch Systems by Accenture and L&T respectively.

Also Read : US-India Chip Cooperation Gains Momentum

The Beginning of the Semiconductor Wave in India

The Indian semiconductor industry has seen rapid growth due to increased demand for consumer electronics, automotive components, and AI tools. Government policies like the Production Linked Incentive (PLI) scheme have played a pivotal role in boosting the sector. These initiatives aim to make India a global hub for semiconductor manufacturing, attract significant investments, and foster innovation. According to Statista, revenue in the Indian semiconductor market is projected to reach US$7.69 billion in 2024, with the industry reaching a valuation of $64 billion by 2026 and $110 billion by 2030, making it a sweet spot for investors.

The Trend of Indian Semiconductor Company Acquisitions

Acquisitions have become a strategic move for companies looking to enhance their technological capabilities, expand market reach, and stay competitive. The trend gained momentum as companies recognized the need to integrate advanced semiconductor technologies into their offerings, driven by the global shift towards digitalization and automation. The year 2022 saw one such prominent acquisition of Steradian Semiconductors, an Indian fabless company having expertise in radar technology . It was acquired by Renesas Electronics, an electronics company leading in electronics device supply.

Infosys Acquires Insemi (January 2024)

In January 2024, Infosys, a global leader in digital services and consulting, announced the acquisition of Insemi, a leading semiconductor design and embedded services provider, for ₹280 crore. This strategic move aimed to strengthen Infosys’s Chip-to-Cloud strategy by leveraging Insemi’s niche design skills and integrating them with Infosys’s AI and automation platforms. Insemi, founded in 2013, had over 900 design specialists and offers comprehensive semiconductor design services across various industries, including consumer electronics and automotive​ (Navigate your next)​​ (Analytics India Magazine)​​ (Techcircle)​.

Accenture Acquires ExcelMax (July 2024)

In July 2024, Accenture announced its acquisition of ExcelMax Technologies, a Bangalore-based semiconductor design services provider. The acquisition, aimed at expanding Accenture’s silicon design and engineering capabilities, was valued at approximately ₹350 crore. ExcelMax, known for its expertise in VLSI and embedded engineering services, serves industries such as automotive, telecommunications, and cloud computing​ (Excelmax)​.

L&T Acquires Siliconch Systems

Siliconch Systems, another key player in the Indian semiconductor landscape with 30 granted patents across various regions., announced its acquisition by Larsen & Toubro (L&T) an Indian multinational conglomerate in a deal valued at ₹200 crore in July 2024 only. This deal is expected to be completed by September 15, 2024

This acquisition is expected to bolster L&T’s semiconductor and IoT capabilities, aligning with the company’s strategic vision to enhance its offerings in the high-tech and automotive sectors.

 

Impact and Future Prospects

The way Indian semiconductor industry is growing , every company wants a share in it and this wave of acquisitions is poised to further reshape the semiconductor landscape in India significantly. By integrating advanced design capabilities and expanding their technological portfolios, companies like Infosys, Accenture, and L&T are well-positioning themselves to equip themselves to meet the growing demand for semiconductors in India. This consolidation also presents challenges, such as integrating diverse technologies and managing cultural differences, but the potential benefits far outweigh these hurdles.

Conclusion

The recent acquisitions in India’s semiconductor industry mark a critical phase of growth and transformation and shows a sign of interest of companies in Indian semiconductor space. As companies continue to innovate and expand, India is set to play a pivotal role in the global semiconductor ecosystem. This wave of acquisitions not only enhances India’s technological capabilities but also positions the country as a key player in the future of semiconductor technology.


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