Cyient buys semiconductor company AnSem For $17 Mn

Hyderabad-based IT services firm Cyient Ltd has acquired fully acquired semiconductor company AnSem NV for $17 million (Rs 113.5 crore) in an all-cash deal, the company said.

Cyient made the acquisition through its step-down subsidiary Cyient Europe Ltd on a cash-free and debt-free basis subject to closing adjustments.

The acquisition will provide Cyient with AnSem’s analog design capability, strengthen its European presence and accelerate its path to building solutions for its other business unit in medical and industrial, the company filing stated. Cyient expects this transaction to be earnings per share accretive.

“Through this acquisition, Cyient can help its clients develop smart analog sensors to capture data while leveraging our loT and analytics solutions to provide actionable insights,” said Suman Narayan, head of the semiconductor business unit at Cyient.

Incorporated in 1998, AnSem is a spin-off of the University of Leuven and supported by Imec, a research and innovation hub in nanoelectronics and digital technologies. The Belgium-based company specialises in the development of advanced integrated circuits for wired and wireless data transmission, sensor data acquisition, ultra-low power and high-voltage applications. It has clients across industries including automotive, medical, industrial, smart home, and smart grid.

AnSem’s revenue stood at about $10 million in the calendar year 2017.

Cyient is a mid-tier IT services company specialising in enterprise research and development and geospatial information systems. The company focuses on sectors such as aerospace and defense, medical, telecommunications, rail transportation, semiconductor, utilities, industrial, energy and natural resources. It has over 15,000 employees in 21 countries.

Cyient’s consolidated net sales stood at Rs 3,917.5 crore and net profit was Rs 403.1 crore for the financial year through March 2018.