Hero Group’s technology arm acquires chip design services firm T&VS

Hero Electronix Pvt. Ltd, the technology and venture arm of the larger Hero Group, has acquired Test and Verification Solutions Ltd (T&VS), a provider of chip design services.

The acquisition was made through Tessolve, a Hero Electronix’s engineering solutions arm.

It also marks Tessolve’s fifth acquisition in the past four years, Hero Electronix said in a statement. However, it did not disclose the financial details of the transaction.

The company said the move would add to its strategic goals and expand its team in the chip design segment. It will also help expand Tessolve’s presence to the United Kingdom and Japan markets.

“The acquisition reaffirms our commitment to keep expanding our team and capabilities to service all engineering requirements of a semiconductor company,” Nikhil Rajpal, CEO at Hero Electronix, said.

T&VS was set up in the United Kingdom by Mike Bartley in 2008. The company provides design verification services to semiconductor firms and has also expanded its offerings into services such as design for test (DFT) and embedded software.

Apart from the UK, T&VS also operates in India, Japan, Singapore, and the US.

Hero Electronix, meanwhile, was set up by the Hero Group in 2015 to tap emerging opportunities in digital-first sectors. The company’s other units include home products-focussed consumer IoT, the enterprise-oriented Zenatix and the set-top box brand MyBox.

It acquired Zenatix in May 2018 for an undisclosed amount. At the time, the company bought out all the Gurugram-based startup’s investors, including Blume Ventures and Pi Ventures. The acquisition came more than a year after Zenatix raised funds worth Rs 8 crore ($1.18 million) in a round led by Pi Ventures.

Other acquisitions the Hero Group company has acquired include MyBox in 2015, TES DST in July 2016, Spectrum Integrated and the test laboratory business of Lynxemi Pte in August 2017, and the analog design business of Analog Semiconductors Pvt. Ltd in November 2017.

Leave Your Comment(s)