Cyient"Limited today said its step down subsidiary"Cyient"Europe Ltd acquired Belgium-based AnSem N V, a leading fabless, analog application-specific integrated circuits (ASICs) design service company.
Though the company officially did not disclose the transaction cost, official sources indicate that it is in the range of USD 17 million.
According to a press release issued by the city-based IT firm, AnSem which specialises in advanced analog, radio frequency, and mixed-signal integrated circuit design and provides custom ASICs for clients has revenue of USD10 Million and over 20 per cent operating margin.
Senior Vice President for Semiconductor, IoT and Analytics at"Cyient, Suman Narayan said through this acquisition,"Cyient"can help its clients develop smart analog sensors to capture data, while leveraging our IoT and analytics solutions to provide actionable insights.
Cyient expects this transaction to be EPS accretive, the release added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)