Dentressangle in talks to acquire Presto Engineering
French investment group Dentressangle has made a move for its compatriot firm Presto Engineering, which specialises in ASIC design, testing and production.
Meyreuil-based Presto offers Application Specific Integrated Circuits (ASICs) services to major foundries such as Globalfoundries, STMicroelectronics and X-Fab. It also supplies OEMs in fields such as industrial, automotive healthcare and IoT. Presto has about 150 employees worldwide, with operational facilities in Europe, North America and Asia.
The firm describes its main activities as follows:
- Circuit design
- End to end production
- Testing at its laboratories in France, Denmark and Asia
- Quality monitoring and client feedback
- Logistics and export checks
Dentressangle says its move to acquire Presto is based on its belief that European firms are too dependent on Asia for the production of integrated circuits. It believes this is set to shift, not least because the European Union has a EUR 43 billion investment plan to double Europe’s production capacity by 2030.
Cedric Mayor, CEO of Presto Engineering Group, said: “I’m delighted to begin a new chapter with Dentressangle Capital, an investor known for its ability to work alongside entrepreneurs to help businesses grow. This will allow us to speed up Presto’s growth so that we can confirm our position as Europe’s leading one-stop- shop in the ASICs market. We are committed to this ambition backed by our design expertise and our industrialisation and component production know-how to help our OEM customers innovate.”
