Cyient acquires Belgium-based AnSem N V for $17 million
Cyient Limited said its step down subsidiary "Cyient" Europe Ltd obtained Belgium-based AnSem N V, a leading fabless, analog application-specific incorporated circuits (ASICs) plan benefit company. Though the organization authoritatively did not unveil the exchange cost, official sources demonstrate that it is within the scope of USD 17 million.
According to a press release issued by the city-based IT firm, AnSem which specializes in advanced analog, radio frequency, and mixed-signal integrated circuit design and provides custom ASICs for clients has revenue of USD10 Million and over 20 percent operating margin.
Senior Vice President for Semiconductor, IoT, and Analytics at"Cyient, Suman Narayan said through this acquisition,"Cyient" can help its clients develop smart analog sensors to capture data while leveraging our IoT and analytics solutions to provide actionable insights. Cyient expects this transaction to be EPS accretive, the release added.