US-headquartered UST Global has acquired Bengaluru-based SeviTech Systems, a chip design services company. The value of the acquisition has not been disclosed.
California-based UST Global is backed by Singaporean state investment firm Temasek.
Post acquisition, SeviTech will be retained as an independent entity. It will be positioned as an expert in the pre-silicon engineering services business and will deliver solutions to the automotive, communication and storage industries.
Prabh Bhairi, Chief Executive Officer and Co-founder of SeviTech Systems, said, "The acquisition would enhance the company's service portfolio and strengthen its position with customers for end-to-end chip design solutions."
Founded in 2013, SeviTech Systems has about 350 employees with expertise in end-to-end Application Specific Integrated Circuit (ASIC) design and embedded solutions. The company has research and development centres in Bengaluru and Hyderabad.
Gilroy Mathew, Global Head, Semiconductor Business, and Head of APAC, UST Global, said, "Acquisition of SeviTech is an integral part of the plan to strengthen our technical centres of excellence. We now have expertise in delivering low-power, high-performance chipset solutions to automotive, communication, storage and other industries."
UST Global has regional headquarters in California, Singapore and London, and has over 35 offices across the world. In India, the firm has a presence in Bengaluru, Chennai, Coimbatore, Kochi, Thiruvananthapuram, Mumbai, Bhopal and Delhi.