Patni buys US-based ASIC firm Zaiq Tech

Patni Computer Systems has acquired Zaiq Technologies, a US-based ASIC design company by way of an asset purchase transaction for $ 4,25,000.

According to an official release issued by Patni to the BSE today, the company is buying intellectual property in application specific integrated circuit (ASIC) design and validation space, active customer contracts and business pipeline along with a sales head and trademarks including other capital assets like hardware and software.

Zaiq would provide ASIC capabilities for Patni's PES business unit. Patni aims to benefit from Zaiq's technical capabilities and would get access to Zaiq's intellectual property for verification and validation, the release said.

Zaiq technologies is a principal provider of outsourced design services and software products to companies that develop complex, high-performance systems and integrated circuits, the release added.