Cyient Ltd announced the strategic expansion of its Semiconductor business with the establishment of a fully owned subsidiary.
Mr. Krishna Bodanapu, Vice Chairman & Managing Director of Cyient Limited, announced a strategic initiative that would enhance their capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. With the global semiconductor market expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasting the industry’s growth to USD 100 billion by 2030, we are well positioned to capitalize on the vast opportunities for growth and influence in this evolving market.”
Bodanapu said, “Cyient’s credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled us to set-up this subsidiary to drive a dedicated focus on turnkey ASIC design and chip sales through a fabless model for analog mixed-signal chips. This subsidiary ushers a new avenue of possibilities for Cyient to enhance value to our stakeholders and we are grateful for their continued support in this journey.”
Cyient Shares rose 7% on the day on the day of the announcement.