L&T’s semiconductor arm acquires Bengaluru-based SiliConch Systems

Larsen & Toubro’s (L&T) whole-owned subsidiary L&T Semiconductor Technologies (LTSCT) signed an agreement on Monday for acquisition of 100% stake in Bengaluru-based SiliConch Systems for a cash consideration of Rs 183 crore.

“The acquisition is expected to add intellectual property (IP), engineering skillsets and design expertise to strengthen the Group’s presence in fabless semiconductor business, and thus aligns with the overall growth strategy of LTSCT,” L&T said in a regulatory filing on Tuesday.