Polymatech acquires US company
In a strategic move to bolster its position in cutting-edge semiconductor chip fabrication and testing devices, Polymatech Electronics, an Indian semiconductor chip maker, has acquired Nisene Technology Group Inc., California, USA.
The acquisition was executed through Polymatech's wholly-owned subsidiary, Artificial Electronics Intelligent Materials Pte Ltd. in Singapore.
Nisene Technology Group has been operating since the 1970s and is known for its work in ICs built on silicon and SiC wafers. Over the years, Nisene has designed at least 50 different types of ICs and registered numerous patents, solidifying its status as a cornerstone of the industry.
"The acquisition complements Polymatech's leading-edge product portfolio and enables the development of new classes of products," said Ryan Young, incoming CEO of Nisene, in a press release.
Nisene's expertise in silicon and silicon carbide, combined with Polymatech's Sapphire-based semiconductors, creates a unique multi-wafer technology. This merger positions Polymatech as potentially the only company in the world with such a comprehensive semiconductor offering. Polymatech says it will continue to produce Sapphire Wafers using advanced technology supplied by European tool suppliers, with the tools expected to be in their facility by the end of January 2025.
Strategically located in California, USA, Polymatech plans to invest up to USD 500 million. The company will produce SiC and Sapphire wafers, high-performance CPUs, and GPUs for PCs and mobiles. The company aims to achieve a top line of USD 5 billion by 2030.
"With 50 years of experience and expertise in the semiconductor industry, Nisene has witnessed all developments from scratch. Now part of Polymatech, together we will create the next generation of semiconductors that are not only better but capable of more," adds Eswara Rao Nandam, CEO of Polymatech Electronics.
