Cyient Limited Acquires 27.3% Stake in U.S.-based Azimuth Al, Inc. for USD 7.25 Mn

Cyient Limited, a leading global engineering and digital technology solutions company, has announced the acquisition of a 27.3% stake in Azimuth Al, Inc., a U.S.-based embedded silicon product company, for USD 7.25 Mn. Azimuth Al, Inc., founded in 2023, is a fabless custom ASIC company known for its expertise in Energy and Industrial applications and with focus across global markets including India. The acquisition is expected to be completed by November 30, 2024. This strategic investment marks a significant milestone in Cyient’s semiconductor journey and aligns perfectly with our strategic growth objectives for the sector. It further augments Cyient's turnkey ASIC capabilities and strengthens its presence in the promising Indian semiconductor market.