Engineering services company Cyient acquires 27.3% stake in Azimuth AI

Engineering services company Cyient today announced the acquisition of a 27.3 per cent stake in Azimuth AI, a fabless custom application-specific integrated circuit (ASIC) company known for its expertise in intelligent energy and power solutions. The financial details of the transaction were not disclosed.

 

This strategic investment marks a significant milestone in Cyient’s semiconductor journey and demonstrates the continued focus on driving accelerated growth in this industry.

 

Krishna Bodanapu, executive vice-chairman and managing director of Cyient, said, “Investing in Azimuth AI strengthens our focus on building cutting-edge ASIC chips designed and developed in India—for the world. It further enhances our capabilities in this critical space while reinforcing our commitment to next-gen power and energy solutions. We look forward to this partnership.”

 

The acquisition is part of the company’s strategic expansion of its semiconductor business. In July last year, the company announced the establishment of a fully owned subsidiary. “Driven by the Indian government’s initiatives to boost domestic innovation in semiconductors, India is emerging as a hub for chip development, especially in power and energy-efficient systems,” said Bodanapu.

 

Praveen Yasarapu, founder and chief executive officer of Azimuth AI, said, “We are pleased to embark on this journey with Cyient. The synergies between our companies are clear, and we are eager to leverage Cyient’s deep expertise in ASIC design, coupled with their proven ability to deliver high-quality, innovative solutions across multiple industries. Together, we aim to deliver groundbreaking solutions that will push the boundaries of semiconductor technology for the global as well as Indian market.”

 

This strategic investment marks another significant step in Cyient’s ongoing efforts to expand its capabilities and drive innovation across the semiconductor industry.

 

Cyient reported revenue of Rs 1,849 crore for the second quarter of FY25, up 4 per cent year-on-year (Y-o-Y). Profit after tax for the quarter was Rs 179 crore, up 4.6 per cent Y-o-Y.