IT major Cyient is acquiring AnSem N.V., a Belgian firm specialising in application-specific integrated circuit (ASIC) design, in an all-cash $17 million transaction. Cyient Europe Ltd., a subsidiary in the U.K., has signed a definitive agreement to acquire 100% equity in AnSem NV.
The transaction would allow Cyient to offer turnkey ICs, starting from concept circuit to final production, the company Cyient said in a filing on Thursday.
Suman Narayan, Senior Vice President for Semiconductor, IoT, and Analytics at Cyient, in a press release, said through this “acquisition Cyient can help its clients develop smart analog sensors to capture data while leveraging our IoT and analytics solutions to provide actionable insights.”
Cyient expects the transaction to be EPS accretive. The deal is to be financed by 1:1 debt equity ratio for cost arbitrage and leveraging.
Based at Leuven in Belgium and having a subsidiary in The Netherlands, AnSem is a fabless, custom analog and mixed-signal ASICs design firm. It specialises in advanced analog, radio frequency and mixed-signal IC design and provides custom ASICs for customers around the world in key industries, including automotive, medical, industrial, smart-home, and smart grid.
Incorporated in 1998 as a spin-off of the University of Leuven with support of IMEC – the research and innovation hub in nano-electronics and digital technologies – AnSem has revenue of $10 Million and its operating margin is 20%.
Describing AnSem as one of the success stories, Executive Vice President at IMEC and member of the Board of Directors of AnSem Ludo Deferm said the acquisition by Cyient is a confirmation of AnSem’s business value and the strength of the eco-system around IMEC.
Cyient counted access to European customers and opportunity to expand in markets such as Japan and Canadaamong the rationale behind the acquisition.
