Akshata Sharma
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Amid the ongoing buzz in the country's semiconductor space, construction giant L&T is acquiring a 100% stake in semiconductor design startup SiliConch Systems for INR 183 Cr
The INR 183 Cr deal will comprise an upfront amount of INR 133 Cr payable at the time of closing the transaction. The remaining INR 50 Cr shall be payable over four years and will be subject to "closing adjustments" and fulfilment of "certain targets and other conditions".
Founded in 2015 by Vishnu Mohan Pusuluri, Vinay Patel, Polasa Rakesh, Kaustubh Kumar, Jaswanth Ammineni and Abhishek Sardeshpande, SiliConch Systems is a fabless semiconductor design startup that develops system-on-chip (SoCs).
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