The technology arm of Hero Group, Hero Electronix Pvt. Ltd has reportedly acquired Test and Verification Solution Ltd (TVS) that provide chip design services to the customers.
The transaction was carried through Tessolve, an engineering solutions arm of Hero Electronix.
It also marks Tessolves fifth acquisition in the past four years, VC Circle reported citing Hero Electronixs statement.
The move would add to its strategic goals and expand its team in the chip design segment. It will also help expand Tessolves presence to the United Kingdom and Japan markets, the company said in its statement.
The acquisition reaffirms our commitment to keeping expanding our team and capabilities to service all engineering requirements of a semiconductor company, Nikhil Rajpal, CEO at Hero Electronix, said in an interview with VC Circle.
TVS was established in 2008 by Mike Bartley. It renders design verification services to semiconductor companies. It also increased its services like embedded software and design for test (DFT). Besides operating in the UK, which is its headquarter currently, it is operating in India, Singapore, Japan, and the US.
On the other hand, Hero Electronix was founded in 2015 by Hero Group to utilize opportunities that are surfacing in digital niches. It also deals in additional units like home appliances-focused IoT, Zenatix and MyBox.