Kaynes Technology Forms JV with Vishay for Semiconductor Services

Kaynes Technology India Limited has executed a binding term sheet to establish a joint venture through its wholly-owned subsidiary, Kaynes Semicon Private Limited (KSPL), with Vishay Intertechnology, Inc. and its subsidiary Ecomal Nederland B.V. The joint venture will focus on semiconductor back-end manufacturing services, including post-fab wafer processing, assembly, test, and packaging (OSAT), and will operate a Vishay captive line in India. Vishay will invest in KSPL for a 49% stake. The transaction is subject to definitive agreements and customary closing conditions. Mr. Raghu Panicker will serve as the Managing Director and CEO of KSPL.