New Delhi, Dec. 17 -- Cyient Semiconductors on Wednesday announced the acquisition of a majority stake in Kinetic Technologies for up to $93 million. This strategic move is aimed at strengthening Cyient's presence in the custom power IC sector, particularly in the edge AI and high-performance compute markets, it said in a stock exchange filing.

The acquisition is a significant step for Cyient Semiconductors, which seeks to establish itself as a leader in the ASIC-led custom power semiconductor space in India. By integrating Kinetic Technologies' expertise in power management and high-performance analog and mixed-signal ICs, Cyient aims to enhance its capabilities within the $40 billion power semiconductor market, the company said in the ...