Cyient acquires 27.3% stake in Azimuth AI to strengthen its semiconductor capabilities

Cyient on Monday announced the acquisition of a 27.3 per cent stake in Azimuth AI, a fabless custom ASIC company. This strategic investment, the company added, marks a significant milestone in Cyient’s semiconductor journey and demonstrates the continued focus to drive accelerated growth in this industry.

Krishna Bodanapu, Executive Vice-Chairman & Managing Director of Cyient, said, “Driven by the Indian Government’s initiatives to boost domestic innovation in semiconductors, India is emerging as a hub for chip development, especially in power and energy-efficient systems.