Cyient acquires 27.3% stake in Azimuth AI for $7.25M to enhance semiconductor capabilities and support India's innovation initiatives.

Cyient, an engineering services firm, has acquired a 27.3% stake in U.S.-based Azimuth AI, a custom ASIC company, for $7.25 million. This investment aims to enhance Cyient's semiconductor capabilities and support India's semiconductor innovation initiatives. The partnership will leverage both companies’ expertise to develop advanced application-specific integrated circuits for the global and Indian markets, focusing on energy-efficient solutions.

October 28, 2024
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