Cyient acquires 27% stake in Azimuth for strengthening semiconductor capabilities

Azimuth AI is a fabless custom ASIC company known for its expertise in intelligent energy and power solutions.

Krishna Bodanapu, executive vice-chairman & managing director of Cyient, said: 'In July this year, we announced the strategic expansion of our Semiconductor business with the establishment of a fully owned subsidiary.

Investing in Azimuth AI strengthens our focus on building cutting-edge ASIC chips designed and developed in India ' for the world. It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions.'

Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).

The scrip shed 0.70% to currently trade at Rs 1783.60 on the BSE.