Cyient acquires stake in Azimuth AI to build cutting-edge ASIC chips
Cyient has acquired a 27.3% stake in Azimuth AI, a fabless custom ASIC company known for its expertise in intelligent energy and power solutions.
"Driven by the Indian Government’s initiatives to boost domestic innovation in semiconductors, India is emerging as a hub for chip development, especially in power and energy-efficient systems. In July this year, we announced the strategic expansion of our Semiconductor business with the establishment of a fully owned subsidiary," says Krishna Bodanapu, Executive Vice-Chairman & Managing Director of Cyient, in a press release.
Krishna Bodanapu continues to say that investing in Azimuth AI strengthens Cyient's focus on building cutting-edge ASIC chips designed and developed in India — for the world.
"It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions. We look forward to this partnership.”
Praveen Yasarapu, the Founder and CEO of Azimuth AI, expressed excitement about the partnership with Cyient, highlighting the clear synergies between the two companies. He emphasized their eagerness to harness Cyient’s deep expertise in ASIC design, along with their proven track record in delivering high-quality, innovative solutions across various industries. Yasarapu noted that, together, they aim to create groundbreaking solutions that will advance semiconductor technology both globally and in the Indian market.
