India’s Cyient launches fabless chip company
Engineering, data and management services conglomerate Cyient Ltd. (Hyderabad, India) has launched and will invest in a subsidiary company – Cyient Semiconductors Pvt. Ltd. – that aggregates its chip design operations.
Cyient is set to contribute US$100 million to the subsidiary with the option of outside investors participating in the funding, according to TheWeek, which quoted Ramya Mohan, CFO of Cyient Semiconductors. Mohan said the company hopes to close the fund raising in the first half of the current financial year, which began on April 1.
Cyient was founded as Infotech Enterprises Ltd. in 1991 before undergoing a rebranding to Cyient in 2014. As part of its activities across 25 years of existence the company has been delivering ASIC turnkey designs and semiconductor design services for customers working in industrial, datacenter, automotive, and medical applications. Through a process of both organic growth and acquisition Cyient has built up a roster of about 400 engineers in design teams at locations in India, the US, Germany, Belgium, the Netherlands, and Taiwan.
At the launch it was announced that Suman Narayan has been appointed CEO of Cyient Semiconductors. Narayan began his career with 18 years at Texas Instruments before taking roles in senior management with OnSemi, Cyient and most recently as senior vice president responsible for power and sensors at Allegro MicroSystems. Cyient said that under Narayan the chip design subsidiary will continue to deliver analog, mixed-signal, RF, and digital circuits from architecture to production through both turnkey and design service models.
“Our vision is to align Cyient’s semiconductor capabilities with the national agenda set by the Ministry of Electronics and Information Technology, aiming to build a robust semiconductor ecosystem in India,” said Krishna Bodanapu, executive vice chair and managing director of Cyient, in a statement.
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