Tech giant Accenture has acquired Bengaluru-based chip design start-up Excelmax technologies for an undisclosed sum as per a report by Inc42.
The acquisition will reportedly enable the IT giants to bolster their semiconductor design and engineering capabilities, accelerating the adoption of edge computing solution among its clients.
Tech giant Accenture has acquired Bengaluru-based chip design start-up Excelmax technologies for an undisclosed sum as per a report by Inc42.
The acquisition will reportedly enable the tech firm to bolster their semiconductor design and engineering capabilities, accelerating the adoption of edge computing solution among its clients.
Amidst the rapid adoption of GenAI by IT service companies, the deal is expected to enable Excelmax to leverage the IT services giant's customer base to fuel its growth.
It is reported that Excelmax's nearly 450 employees cutting across emulation, automotive, physical design, analog, logic design and verification would join Accenture.
Launched in 2019, Excelmax provides solutions for its customers in automotive, telecommunications and other sectors apart. It also claims to offer semiconductor solutions from high level designing to and full turnkey execution.
“Our acquisition of Excelmax enhances our expertise across every aspect of silicon design and development—from concept to production—so we can help our clients fuel innovation and drive growth”, said group CEO of technology at Accenture, Karthik Narain as per the reports.
Excelmax co-founder and CEO Shekhar Patil said, “Our focus has always been on developing the best talent to deliver tailor-made solutions for our global clients that help them build and maintain competitive advantage… Joining Accenture enables us to remain at the forefront of innovation, providing new and exciting opportunities for both our clients and our people,” as per media reports.
The increase in GenAI adoption by IT services is propelling a demand for semiconductors across the world. The subsidies and sops offered by the Indian government for semiconductor industry has prompted big conglomerates domestically and internationally such as Tata Group and US-based Micron Technology and CG power to line up funds for investments in the country.
In a recent development, Tessolve CEO Raja Manickam announced the launch of his fabless semiconductor startup, iVP Semi. The start-up based in Chennai raised $5 million from multiple investors to design semiconductors at its upcoming plant in Tamil Nadu.
It is reported that the Indian semiconductor space is projected to skyrocket to a market size of $150 Bn by 2030.