October 28, 2024 – Cyient, a leader in Intelligent Engineering services, has acquired a 27.3% stake in Azimuth AI. Azimuth AI, known for its custom ASIC (Application-Specific Integrated Circuit) solutions, specializes in energy-efficient semiconductor technologies.
This acquisition is a major milestone in Cyient’s journey into the semiconductor industry. It highlights the company’s commitment to accelerated growth and innovation in chip technology.
Supporting India’s Semiconductor Vision
Cyient’s Executive Vice-Chairman & Managing Director, Krishna Bodanapu, emphasized the strategic timing of this investment. “India is emerging as a semiconductor development hub,” he said, “especially in power and energy-efficient systems.” Cyient’s partnership with Azimuth AI aims to strengthen its semiconductor capabilities, especially in designing and developing ASIC chips tailored to energy solutions.
Also read | NAMTECH and ABB Robotics Partner to Launch Robotics School in 2025
Advancing Technology Together
Azimuth AI’s CEO, Praveen Yasarapu, expressed enthusiasm about the partnership. He noted Cyient’s expertise in ASIC design and their proven track record in delivering innovative solutions across industries.
With this strategic stake, Cyient is set to drive growth and development in India’s semiconductor space. The partnership aligns with government initiatives to foster domestic chip development and signals a significant leap for both companies in their pursuit of cutting-edge technology.
