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L&T Semiconductor Tech to acquire SiliConch Systems for Rs.183-Cr

BSE Announcement  

L&T Semiconductor Technologies (LTSCT), a wholly-owned subsidiary of publicly listed Larsen & Tourbro, has acquired of 100% stake in Bengaluru-based SiliConch Systems for INR 133 crore payable at closing and a deferred amount of INR 50 crore payable over 4 years. The acquisition is expected to be completed by 15th September 2024. The target’s turnover for FY24 was INR 27.68 Cr.Incorporated in April 2016, Siliconch Systems specialises in the development/design of semiconductor Intellectual Property (IP) / Integrated Circuits (IC). The acquisition will add IP, engineering skill sets and design expertise to strengthen L&T Group's presence in the fabless semiconductor business.

In July-2016, SiliConch had raised funding from StartupXseed Ventures.