GlobalLogic, a Hitachi group company, has acquired a 100 per cent equity stake in Mobiveil, a US firm that specialises in embedded engineering services. Mobiveil, founded in 2012 by Ravi Thummarukudy and Gopi Periyadan, offers semiconductor engineering services, silicon intellectual property and application platforms, and has operations in the US and in India. It is an expert in ASIC and FPGA design and verification, system-level engineering, embedded software and SoC services.
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GlobalLogic, a Hitachi Group company, is a leader in digital product engineering services and helps brands design and build innovative products, platforms and digital experiences. It operates design studios and engineering centres around the world, extending its deep expertise to customers in the automotive, communications, financial services, healthcare and life sciences, manufacturing, media and entertainment, semiconductor and technology industries.
Chennai-based Spark Financial Holdings was the exclusive financial advisor to Mobiveil for this deal. A press release issued by Spark on Tuesday said that this was Spark’s 58th transaction in the technology services space and its cross-border transactions, aggregating to about $4.2 billion in value.