M&A

M&A

Semiconductor engg co. Tessolve in talks to acquire 2 firms

Economic Times   Tessolve  

Bengaluru-based Tessolve , the semiconductor engineering arm of Hero Electronix, is in talks to acquire two firms, one based in the USA and one in India. The company expects to finalise one of these deals within the next two months and complete the second by the end of the current fiscal year.The company is considering an initial public offering. It plans to use its capital to strengthen global delivery centers, expand advanced test labs, and accelerate acquisitions to reach its target of over USD 500-M (INR 4,700 crore) in annual revenue within three to four years.Tessolve raised USD 150 million from US private equity firm TPG in September 2025, its largest fundraise to date. The firm currently employs more than 4,000 people across 12 countries, with 85% of its workforce based in India. It acquired a 100% stake in Germany’s Dream Chip in November 2024 for INR 400 crore.