L&T Tech to acquire 100% stake in Graphene Semiconductor for Rs 930 mn

Graphene is one of the fastest growing companies in Semiconductor Services with a presence in India, Singapore, Taiwan, and Malaysia; FY18 turnover was Rs 663 mn

Pure-play engineering services company L&T Technology Services (LTTS) Limited has executed a definitive agreement to acquire 100 per cent stake in Bangalore-based Graphene Semiconductor Services Private Limited in an all cash deal worth Rs 930 million. It includes Rs 230 million payment in the form of earn-outs and retention pay spread over 3 years.

“Graphene’s strong offshore presence, coupled with expertise in complete VLSI Chip Design & Embedded Software will be a force multiplier for LTTS and will enhance our capabilities in the Semiconductor & Product OEM space,” said Dr Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.  

The transaction