L&T Tech to acquire 100% stake in Graphene Semiconductor for Rs 930 mn

Pure-play engineering services company L&T Technology Services (LTTS) Limited has executed a definitive agreement to acquire 100 per cent stake in Bangalore-based Graphene Semiconductor Services Private Limited in an all cash deal worth Rs 930 million. It includes Rs 230 million payment in the form of earn-outs and retention pay spread over 3 years.

“Graphene’s strong offshore presence, coupled with expertise in complete VLSI Chip Design & Embedded Software will be a force multiplier for LTTS and will enhance our capabilities in the Semiconductor & Product OEM space,” said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.  

The transaction is expected to be completed by October 2018. 

Counting among 10 of the world’s top semiconductor fabrication and fabless companies as its customers, Graphene provides end-to end solutions -— right from chip design, embedded software, all the way through providing support to mass manufacturing, thereby being a one-stop service and solution provider.