Hero Electronix’s Tessolve acquires analog design business of AnalogSemi
Chennai, 07 November 2017: Hero Electronix, a part of the $5 billion Hero Group, today announced the acquisition of the analog design business of Bangalore-based AnalogSemi (Analog Semiconductors Pvt. Ltd.). The acquisition was made through Tessolve, a Hero Electronix venture and a leading provider of engineering services. The acquisition adds to Tessolve’s analog design services offering and strengthens its capabilities as an end-to-end provider of engineering services. Hero Electronix and its group companies aim to build engineering led businesses in technology and electronics. Hero Electronix’s revenue at the end of FY 2017 stood at Rs 600 crores; Tessolve was a key contributor, growing at 40% y-o-y.
AnalogSemi comprises a team of talented engineers with extensive capabilities in this domain. The leadership team has over 110 years of cumulative analog design experience and have built strong relationships with semiconductor companies in the 3 years since AnalogSemi’s incorporation. The team has extensive expertise across different industry verticals and has successfully delivered over 70 silicon proven IPs, which are in production today by various semiconductor companies.
Mr. Nikhil Rajpal, CEO, Hero Electronix, said, “We are building Tessolve into the largest semiconductor engineering services player in the world. This is the fourth acquisition in the past 18 months since our inception. The latest acquisition of the analog business, along with the earlier acquisitions of the embedded business of TES DST, Malaysia’s Spectrum Integrated Technologies and the test lab business of Singapore’s Lynxemi, add to Tessolve’s ability to offer a more comprehensive solution to its customers.”
“Analog chips are key components of mostelectronic systems. Demand for analog design is growing with the proliferationof semiconductors in our daily lives starting from mobile phones, homeentertainment all the way to IOT and automotive industries. The AnalogSemi teamcomes with extensive experience and capabilities in the Analog design domain.This significantly adds to Tessolve’s existing Analog expertise as we can nowoffer a more robust end-to-end design solution,” said Mr. Srinivas Chinamilli,COO, Tessolve.
Mr. Somashekhar Basavaraj, CEO and Founder,AnalogSemi added, “The team is extremely delighted and proud to be part of theHero Electronix and Tessolve family. Tessolve’s diversified offering will addsignificant value to our aggressive growth plans to become an industry leaderin Analog design.”
Hero Electronix and Tessolve lay strongemphasis on diversification, moving from offering semiconductor testengineering services to becoming a complete solutions provider. Tessolve is nowstrongly positioned as a leading end-to-end semiconductor engineering solutionsprovider – from chip design, test and PCB engineering through embedded systemsdevelopment.