India-based information technology specialist Wipro is set to acquire engineering services company Eximius Design for US$80 million.
The acquisition will enable Wipro to strengthen their market position in very large-scale integration (VLSI), a process of creating an integrated circuit by combining thousands of transistors into a single chip, and systems design services and accelerate silicon innovation for their customers.
“We are pleased to welcome Eximius’ employees and look forward to helping our customers innovate at scale and deliver next generation connected products, faster,” said Harmeet Chauhan, the Senior Vice President of Industrial & Engineering Services at Wipro.
Eximius has design centers in the US, India and Malaysia, with clientele including Fortune 100 corporations and new age companies across semiconductors, cloud and hyperscale infrastructure, consumer electronics and automotive segments.
“Our customers, employees and the entire semiconductor ecosystem will tremendously benefit from the synergies of Eximius and Wipro’s combined portfolio of offerings,” said Jay Avula, the CEO of Eximius Design.
Eximius provides end-to-end solutions and services for building smarter, smaller and faster connected products for various use cases of IoT, Industry 4.0, edge computing, cloud, 5G and artificial intelligence.
“Clients will gain access to Wipro’s global scale and offerings, along with Eximius’ innovative solutions to accelerate the adoption of ASIC, FPGA, systems and software engineering initiatives,” added Mr. Avula.
Eximius’ offerings and solutions will be consolidated as a part of Wipro’s EngineeringNXT framework, providing customers with a platform to innovate and engineer the next generation of products and platforms at scale.
Eximius employs 1,100 people and registered $35.2 million in revenue in 2019.
The acquisition by Wipro is expected to close by the end of 2020, following customary closing conditions and regulatory approvals.
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Image credit: Reuters
