Engineering services firm LT Technology Services (LTTS) will buy Bangalore-based Graphene Semiconductor Services Pvt Ltd. It is an all-cash deal, however, the company has not disclosed the financial details of the transaction.
LTTS said that the transaction is expected to be completed by next month.
Graphene provides chip design and associated services, and has a presence in India, Singapore, Taiwan and Malaysia.
The company is one of the fastest growing companies in the semiconductor services domain. It had a revenue of Rs 66.3 crore in 2017-18.
Keshab Panda, CEO and Managing Director of LT Technology Services, said, Graphenes strong offshore presence, coupled with expertise in complete VLSI Chip Design and embedded Software will be a force multiplier for LTTS and will enhance our capabilities in the semiconductor and product Original Equipment Manufacturer (OEM) space.