Cyient to invest $100 million in semiconductor business

Domestic technology firm Cyient has launched a new subsidiary—Cyient Semiconductors—to focus on turnkey semiconductor solutions.

The company also announced the appointment of Suman Narayan as CEO of the new subsidiary.

The company’s board has approved an investment of $100 million in the newly formed entity, with the potential to raise additional funds from external sources, said Krishna Bodanapu, executive vice chairman and managing director at Cyient.