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L&T Semiconductor Technologies, a subsidiary of Larsen & Toubro, acquired 100% of Siliconch Systems, a fabless semiconductor design company, for an upfront INR 133 crore and deferred INR 50 crore (total ~USD 21.8 million).
L&T Semiconductor Technologies Limited, a wholly owned arm of Larsen & Toubro, entered into a Share Purchase Agreement on July 8, 2024 to acquire 100% of SiliConch Systems Private Limited for Rs 133 crore, with an additional deferred amount of Rs 50 crore. The acquisition is expected to close by September 15, 2024.