Hero Electronix, a part of the Hero Group, on Wednesday acquired Test & Verification Solutions (T&VS), a provider of chip design services. The acquisition was made through Tessolve, a Hero Electronix venture and an engineering solutions company, according to a release.
The acquisition provides impetus to Tessolve’s chip design offering taking its overall company strength to over 2,000 engineers and cements Tessolve as a leading end-to-end provider of semiconductor engineering services.
Founded in 2008 in UK by Mike Bartley, an industry veteran with over 25 years of experience in the design verification domain, T&VS is a provider of Design Verification solutions to semiconductor companies having expanded its offerings into Design for Test (DFT) and Embedded Software with a 400+ team across multiple markets including UK, India, Japan, US and Singapore.
T&VS is the fifth acquisition by Tessolve in the past four years. The acquisition adds a strong team and capability depth in areas like chip design and expands Tessolve’s presence into the UK and Japan markets.
Commenting on the acquisition P Raja Manickam, CEO, Tessolve said, “We are excited to welcome the T&VS team. The addition of T&VS talent and technologies will enable us to provide more integrated and optimized chip design solutions. Design verification and validation is an important phase in the design and production cycle of every semiconductor product and accelerates taking products to market.”
Nikhil Rajpal, CEO, Hero Electronix said, “This is the largest acquisition by Tessolve till date and a critical addition in building Tessolve into the largest semiconductor engineering services player in the world. The acquisition reaffirms our commitment to keep expanding our team and capabilities to service all engineering requirements of a semiconductor company.”
Mike Bartley, CEO and founder, T&VS added “We are delighted and proud to be part of the Hero Electronix and Tessolve family. Tessolve has a global footprint with deep relationships and the most extensive capabilities in semiconductor engineering. It is a unique opportunity for the entire team at T&VS to integrate and aspire for larger opportunities both individually and collectively as a team.”
Source: Economic Times