Altran acquires semiconductor design firm SiConTech

France's innovation and consulting firm Altran today said it has acquired homegrown SiCon Design Technologies (SiConTech) for an undisclosed amount.
SiConTech, an engineering services company specialising in semiconductor design, was founded in Bangalore in 2010 and has over 500 employees.
Altran, which entered India in 2004, said the acquisition of SiConTech is in line with its strategy to expand footprint in India.
"The acquisition of SiConTech was financed entirely by the Altran Group... The operation is expected to be finalised in 2015, and is subject to customary conditions precedent," Altran said in a statement.
The French firm has around 550 people in India and post the acquisition, the number will be increased to over 1,100.

"We have about 550 people and this acquisition doubles our staff strength to over 1,100," Altran India CEO and Managing Director Sanjay Kumar told PTI.

Kumar added the acquisition will help them to enhance its embedded software offering and to expand its range of services.
"... The acquisition of SiConTech will enable us to accompany our strategic American clients operating in semi-conductors and embedded software, two major sectors," Altran Chairman and CEO Dominique Cerutti said.
SiConTech CEO Naveen Chava said, "Becoming part of the Altran group will broaden our expertise, as well as enhance both our client portfolio and our research and development capacity, and reinforce our position with our customers.