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L&T Technology Services Ltd signs SPA to acquire Graphene Semiconductor Services Pvt Ltd

Posted On: 2018-09-06 16:35:51

L&T Technology Services Ltd has signed a Share Purchase Agreement (SPA) to acquire Graphene Semiconductor Services Private Limited. The acquisition will also include all its 3 overseas subsidiaries incorporate in namely Singapore, Malaysia and Taiwan.

Graphene is a semi-conductor services design and consulting company with strong expertise in SOC, ASIC/VLSI domain and embedded software. It is headquartered in Bengaluru and has an employee strength of around 500+.

This acquisition will enable L&T Technology Services Limited ("LTTS") to strengthen its footprint in VLSI Chip Design and Embedded Software Services.

Graphene's capability in Chip Design and Embedded Software Services will enable LTTS to offer a full end-end portfolio of services to Semiconductor and Product OEM markets.

Opportunity for LTTS to cross-sell to the marquee client base of Graphene.

The Total Deal Value is INR 93 Crore to be paid in tranches. INR 70 Crore will be upfront payment and INR 23 Crore payment will be in the form of earn-outs and retention pay spread over 3 years.

Shares of L&T Technology Services Ltd was last trading in BSE at Rs.1745.25 as compared to the previous close of Rs. 1737. The total number of shares traded during the day was 8622 in over 1029 trades.

The stock hit an intraday high of Rs. 1784 and intraday low of 1734.5. The net turnover during the day was Rs. 15155219.


Source: Equity Bulls

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