Semiconductor and embedded design providers and options firm MosChip Technologies has signed a share buy settlement to acquire Softnautics Inc. for $17.25 million.
The acquisition of the California-based Softnautics, which has workplaces in Pune and Ahmedabad and targeted on product engineering options in embedded design, FPGA and VLSI, will assist MosChip increase geographically, together with enhancing presence in North America and end in broader entry to expertise pool, MosChip stated.
The acquisition will likely be accomplished subsequent quarter. The value of acquisition is to be paid 52.6% in swap shares and 47.4% in money. More than 185 workers could be added to MosChip workforce throughout varied domains, the corporate stated.
The transaction will strengthen MosChip’s embedded system design capabilities and allow it to serve present purchasers higher whereas enhancing the flexibility to acquire new clients, MD and CEO Venkata Sudhakar Simhadri stated in a launch.
