Temasek-backed UST Global Acquires SeviTech
Singapore state investment firm Temasek-backed UST Global on Wednesday announced that it has acquired Bangalore-based SeviTech Systems, a chip design (VLSI) services company.
The acquisition will bring in the advanced technology and deep end-market expertise of the two companies, delivering advanced end-to-end solutions to global semiconductor manufacturers, UST Global said in a statement. The acquisition reinforces UST Global’s strength and focus in India, it added.
Founded in 2013, SeviTech Systems has about 350 employees with expertise in end-to-end ASIC (Application Specific Integrated Circuit) design and embedded solutions. The firm has research and development centres in Bengaluru and Hyderabad.
With respect to the commenting on the acquistion, Gilroy Mathew, Global Head of Semiconductor and Head of APAC, UST Global, said “Globally, our semiconductor business has seen an inspiring and phenomenal growth over the years. The acquisition of SeviTech is going to be an integral part of our plan to strengthen our Technical Centers of Excellence which also helps in providing the RTL to GDSII solutions to our customers globally. With this acquisition, UST is now placed as a leader with expertise in delivering low power, high-performance chipset solutions for Automotive, Communication, Storage and other industries. The acquisition not only reinforces the purpose of the VLSI capabilities but also highlights the company as an industry powerhouse focused on the high growth opportunities in the silicon world.”
“The global presence of UST Global is paired with the help of a strong ASIC engineering teams of SeviTech Systems positions us to provide latest technology innovative solutions to customers worldwide. It enhances our service portfolio and strengthens our position with customers for the end-to-end chip design solutions,” said Prabhu Bhairi, CEO & Co-Founder, SeviTech Systems.