HCL Tech acquires Sankalp Semiconductor for Rs 180 crore

HCL Technologies has acquired Sankalp Semiconductor, a technology design services firm in an all cash deal for a total consideration of Rs 180 crore for a 100% stake.

The acquisition of the company which had revenues of Rs 141.2 crore in FY 2019 is likely to be completed in the first week of October.

The deal offers opportunity to combine Sankalp's Analog Strength with HCL's Digital SOC (System of Chip) expertise to gain marketshare in the VLSI Design Services Market, the company said.


"Sankalp will complement our strong semiconductor offerings and help offer a wider range of services to our customers in the Analog and Mixed signal space," said GH Rao, President – Engineering and R&D Services, HCL Technologies. "Sankalp will operate as a 100% subsidiary of HCL" he added.

Sankalp also provides end-to-end solutions in the automotive, consumer, Internet of Things (IoT), medical electronics, networking and wireless domains. This strategic acquisition would enable HCL to further expand into newer market-domains, especially in analog and mixed signal design with the Engineering and R&D Services industry, the company said in a statement.

"The strategic acquisition will enable synergies between engineering teams allowing us to offer a broader semiconductor know-how, to a wider variety of customers. The joined forces will enable deeper engagements with customers in the end-to-end digital and mixed signal design space," said Samir Patel, CEO Sankalp Semiconductor.