Semiconductor biz expansion: L&T to acquire SiliConch Systems for Rs 183 crore

Larsen & Toubro Ltd on Tuesday announced that its wholly owned subsidiary, L&T Semiconductor Technologies Limited has entered into a share purchase agreement to acquire 100 per cent stake in SiliConch Systems Private Limited.

In a regulatory filing, L&T said that the acquisition cost consists of an upfront amount of Rs 133 crore payable at closing, subject to customary closing adjustments, and a deferred amount of Rs 50 crore payable over 4 years.