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Cyient Ltd, the city-based engineering services firm, has acquired AnSem N.V., for a consideration of $17 million through its subsidiary Cyient Europe Ltd.
AnSem, a fabless, application-specific integrated circuits (ASICs) design company, serves companies in automotive, medical, industrial, smart home and smart grid sectors.
The all-cash deal lets Cyient buy 100 per cent equity in the target firm. Incorporated in 1998, AnSem is headquartered in Leuven, Belgium.
AnSem has revenue of about $10 million in 2017 and operating margins of over 20 per cent.
“This acquisition will help us acquire analog design capabilities, strength European presence and accelerate our drive towards building end-to-end solutions for Cyient’s other business units,” a Cyient statement said.
“Through this acquisition, we can help our clients develop smart analog sensors to capture data, while leveraging our IoT and analytics solutions to provide actionable insights,” Suman Narayan, Senior Vice-President (Semiconductor, IoT, and Analytics) of Cyient, said here.
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