Hyderabad-based engineering firm Cyient has launched its semiconductor subsidiary, Cyient Semiconductors.

The company’s board approved a 860 crore rupees (US$100 million) investment in the new subsidiary, as stated by managing director Krishna Bodanapu.

Additionally, the board has authorized seeking external investments to support the business as necessary.

Cyient Semiconductors will focus on application-specific integrated circuit (ASIC) turnkey solutions and integrated chip (IC) design services.

The subsidiary is projected to contribute US$35 million to US$40 million in revenue, roughly 5% of Cyient’s total revenue.

Its operations span across India, the US, Germany, Belgium, the Netherlands, and Taiwan.

🔗 Source: Inc42