Hyderabad: Engineering and technology solutions provider Cyient Ltd set up a fully-owned semiconductor subsidiary, Cyient Semiconductors, in which the company’s board committed an investment of $100 million (approx 862 crore).
The company also announced the appointment of Suman Narayan as CEO of Cyient Semiconductors, which will focus on scaling up application-specific integrated circuit (ASIC) turnkey solutions for its customers.
With the semiconductor market valued at around $600 billion and projected to reach $2 trillion by 2032, the new subsidiary will tap into this high-growth opportunity, focusing on developing fabless semiconductor solutions while addressing the increasing demand for specialised semiconductor expertise, Cyient said.
Through strategic organic and inorganic growth, Cyient Semiconductors has already built high-performance teams across India, the US, Germany, Belgium, the Netherlands, and Taiwan, it added.
“With the growing demand for high-performance semiconductor solutions, Cyient Semiconductors will play a crucial role in providing end-to-end ASIC turnkey and IC design services, supporting India’s journey toward self-reliance in the semiconductor ecosystem,” said Cyient executive vice chairman & managing director Krishna Bodanapu.
“Our vision is to align Cyient’s semiconductor capabilities with the national agenda set by the Union Ministry of Electronics and Information Technology, aiming to build a robust semiconductor ecosystem in India,” Bodanapu said.
Cyient said it delivered comprehensive ASIC turnkey solutions and semiconductor design services across industrial, data centre applications, automotive, and medical and expects the latest strategic move to strengthen its presence in innovation across the global semiconductor landscape.
“India is on the cusp of a semiconductor revolution, and Cyient is well-positioned to be at the forefront of this transformation with its deep domain expertise. The new semiconductor subsidiary will drive next-generation innovations,” said Cyient Semiconductors CEO Suman Narayan.
