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Mindtree acquires TES IC design arm in India

Posted: 19 Nov 2007 ?? ?Print Version ?Bookmark and Share

Keywords:IC design? software? acquisition?

India-based software and services company Mindtree Consulting Ltd has bought TES-PV Electronic Solutions Pvt. Ltd (Purple Vision), an IC design services subsidiary of TES Electronic Solutions SA , a French electronics design and manufacturing services company.

The company is paying $6.55 million in an all-cash deal for the entire equity of Bangalore-based Purple Vision. The transaction will become effective upon completion of certain closing conditions, which were not disclosed.

Mindtree said it acquired Purple Vision for its track record of turning out multiple full-chip turnkey designs. It said Purple Vision has taken part in more than 150 silicon designs and boasts a high success rate in first-pass silicon. The IC design services firm has developed and licensed its intellectual property in EDA methodologies. Staffed by over 150 engineers, Purple Vision was founded by an Indian engineer, Jagannathan Balaji, and acquired by TES in 2005.

"With the acquisition of Purple Vision, Mindtree's IC design team will be a formidable size of 350 professionals, making it one of the largest independent design services organizations in India. The domain expertise of Purple Vision will fully complement our existing offerings, enabling us to bid for end-to-end chip design projects," said S. Janakiraman, president and CEO of R&D services at Mindtree.

Michel Desbard, chairman and CEO of TES Electronics Solutions, said TES wants to focus on growing its embedded hardware and software capability in India as part of its custom design and manufacturing strategy. He added that toward that end, TES will expand its core team in the country.

Mindtree offers ASIC and IC design services and has capabilities in verification, design-for-testability, physical design and analog design.

- K.C. Krishnadas
EE Times

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