Cyient Semiconductors buys majority stake in Kinetic Technologies for up to USD 93 mn

New Delhi, Dec 18 (PTI) Cyient Semiconductors on Thursday said it has bought a majority stake in Kinetic Technologies, a company into power management, high-performance analog and mixed-signal integrated circuits, in a deal valued at up to USD 93 million.

The combination establishes a scaled platform in the USD 40 billion plus power semiconductor market, accelerating Cyient Semiconductors' growth trajectory across data centers, electrification, automotive, networking, industrial automation, and the fast-emerging edge AI compute segment, according to a release.

"Cyient Semiconductors has signed a definitive agreement to acquire a majority stake in Kinetic Technologies, a global leader in power management, high-performance analog and mixed-signal ICs for a total consideration of up to USD 93 million," the release said.

The transaction is subject to customary closing conditions, it said adding that closing is expected to occur in the coming months. PTI MBI DR DR