Saturday, Dec 14 2024 | Time 13:35 Hrs(IST)
image
Business EconomyPosted at: Oct 30 2020 6:29PM


ASM Technologies Ltd announces acquisition of Semcon’s India delivery centre

Bengaluru, Oct 30(UNI) The ASM Technologies Limited, a global Engineering and Product R&D company, today announced its acquisition of Semcon’s offshore delivery centre in India.
In a press release issued here, it was stated that Semcon headquartered in Sweden is an international technology company that help their customers in transforming technology into excellent user experiences by uniting premium physical and digital solutions.

ASM has over two decades built expertise in the semiconductor, hi-tech, automotive and medical industries while Semcon works with a large number of clients in the automotive industry, energy and life science sectors. With the acquisition, ASM Technologies will benefit from a combined talent pool with domain expertise in diverse industry verticals. In particular, ASM will build both scale and competence, relevant to the automotive industry as it transitions to new propulsion systems and ever-increasing levels of driver assistance and autonomy.

ASM and Semcon have also entered into a Global Cooperation Agreement to provide Semcon continued access to India’s unrivalled scale and capability base for Engineering Services. Pursuant to the agreement, ASM will also deliver services to the Scandinavian market leveraging Semcon’s customer-facing team. Both the companies will collaborate to scale by reciprocal access to a combined talent pool and strong capabilities in key areas such as Product Design and R&D, Embedded and Electronics, Value Engineering, Digital Engineering and Manufacturing Engineering.

Talking about the announcements, Rabindra Srikantan, Managing Director, ASM Technologies Limited, said, “The acquisition further strengthens our proposition for our clients while providing us with the additional scale and growth. We want to take this opportunity to welcome Semcon India employees into our fold and supporting us in our growth. The global agreement is a win-win deal since both the companies complement each other well in terms of respective capabilities and market leadership. We are eager to be joining forces with Semcon to accelerate innovation at scale for customers in existing and new markets.”

“Our activities in India need to be scaled up in order to ensure delivery capacity and long-term profitability. We have reviewed different options to strengthen the operations in India. Instead of doing so organically, we have chosen to divest the operations to ASM Technologies, which already has a strong presence in India. At the same time, we have entered into a strategic cooperation agreement. This enhances value for our customers while allowing us to create the conditions to focus on other prioritized growth areas,” says Markus Granlund, President and CEO of Semcon.
UNI MV GK
Please log in to get detailed story.
Tags: #ASM Technologies Ltd announces acquisition of Semcon’s India delivery centre
More News
YES BANK launches YES Business

YES BANK launches YES Business

13 Dec 2024 | 8:02 PM

Kolkata, Dec 13 (UNI) YES BANK has announced the launch of YES Business, an initiative to sharpen its focus on the business segment and address their needs.

see more..

Amazon will return more water to communities in India than it uses by 2027

13 Dec 2024 | 7:54 PM

Kolkata, Dec 13 (UNI) Amazon on Friday announced it has set a goal to return more water to communities in India than it uses in its direct operations by 2027.

see more..

Vedanta Aluminium saves 1 3 Million GJ of Energy

13 Dec 2024 | 7:35 PM

Bhubaneswar, Dec 13 (UNI) Vedanta Aluminium on Friday announced a significant achievement of saving 1.3 million GigaJoules (GJ) of energy through innovative measures designed to enhance energy efficiency and reduce greenhouse gas (GHG) emissions.

see more..

RSP registers best single day Plate Rolling Record since inception

13 Dec 2024 | 5:58 PM

Bhubaneswar, Dec 13 (UNI) The New Plate Mill (NPM) of Rourkela Steel Plant (RSP) has registered a new benchmark by achieving the best single day plate rolling of 5050 tons of plates on December 11.

see more..
Sensex zooms 843 16 pts

Sensex zooms 843 16 pts

13 Dec 2024 | 5:16 PM

Mumbai, Dec 13 (UNI) Erasing losses, the BSE Sensex on Friday zoomed 843.16 pts to close high at 82,133.12 following gains in IT stocks, anticipating US rate cut.

see more..
image