Cyient Semiconductors acquires 74 pc stake in Kinetic Technologies for $85 mn
New Delhi: Cyient Semiconductors on Wednesday said it has completed the acquisition of 74 per cent stake in US-based power semiconductor solutions provider Kinetic Technologies for USD 85 million.
In a regulatory filing, the Hyderabad-headquartered company said Kinetic Technologies will continue to operate under its current leadership.
“Cyient Semiconductors Singapore Pte Ltd, a wholly owned subsidiary of Cyient Semiconductors Private Limited, has successfully completed the acquisition of a majority stake of 74 per cent (on fully diluted basis) for a consideration of USD 85 million in Kinetic Technologies,” the filing read.
