Hero Electronix's Tessolve acquires German chip design firm for ₹ 400 crore

New Delhi: Semiconductor design company Tessolve, owned by Hero Electronix, has acquired Germany's Dream Chip Technologies for ₹400 crore, in a deal that would enable the Bengaluru-based technology firm design more complex processors and give it a competitive edge. Ujjwal Munjal, chairman of Tessolve, said in a statement: “With the synergy brought by Dream Chip Technologies, I am confident that Tessolve is poised to become a world leader in this space with unparalleled capabilities. As major companies increasingly shift towards custom chip design, this acquisition positions Tessolve more strongly than ever to meet the growing demands of the custom chip market." Tessolve’s solutions help semiconductor manufacturing and packaging companies to accelerate their products to market, as it removes the need for them to make their own investments into design, engineering and testing chips that may be used in a variety of sectors including automotive and power management, besides those used in AI applications, electric vehicles and data centres.