Siliconch Systems (SiliConch, headquartered in Bangalore, was incorporated in April 2016. The company specializes in the development / design of semiconductor Intellectual Property (IP) / Integrated Circuits (IC).

The acquisition is expected to add IP, engineering skillsets and design expertise to strengthen the Group's presence in fabless semiconductor business, and thus aligns with the overall growth strategy of LTSCT.

The cost of acquisition includes:

1. an upfront amount of Rs 133 crore payable at Closing, subject to customary closing adjustments; and

2. a deferred amount of Rs 50 crore payable over4 years, subject to closing adjustments and achievement of certain targets and other conditions