06 September 2018, India:
L&T Technology Services has entered into a definitive agreement to acquire 100% stake in Bangalore-based Graphene Semiconductor Services Private Limited by way of an all cash deal. The financial details of the transaction have not been disclosed yet.
Dr. Keshab Panda, Chief Executive Officer and Managing Director, L&T Technology Services Limited, said, “Graphene’s strong offshore presence, coupled with expertise in complete VLSI Chip Design and Embedded Software will be a force multiplier for LTTS and will enhance our capabilities in the Semiconductor and Product OEM space.”
Vilas Bhade, Co-founder, Graphene Semiconductor Services Private Limited said, “Aligning with LTTS is the right decision to expand our global reach. We will now continue fulfilling our vision of enabling our customers to realize products that attain market leadership positions in their respective markets.”
Graphene Semiconductor Services was founded by Vilas Bhade, Vinay Hebballi, Nandagopal Ananda, and Pramod Sabnis in 2013. It is a publicly listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. It offers consultancy, design, development and testing services across the product and process development life cycle.
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