Cyient completed the acquisition of 27.3% stake in Azimuth AI.

Cyient, a provider of a variety of information technology, IT, and engineering services, completed the acquisition of 27.3% stake in Azimuth AI, a manufacturer of semiconductors intended to offer silicon-based products. Financial terms were not disclosed. "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. In July this year, we announced the strategic expansion of our Semiconductor business with the establishment of a fully owned subsidiary. 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," Krishna Bodanapu, Cyient Executive Vice-Chairman & Managing Director.