Bengaluru, India, November 6, 2024 — Tessolve, a Hero Electronix venture and a leading provider of semiconductor engineering solutions for cutting edge chips, today announced the signing of a definitive agreement to acquire 100% of Dream Chip Technologies, a semiconductor chip design firm headquartered in Germany, for a consideration of up to ₹400 Crore (EUR 42.5 Million). The signing is subject to regulatory approvals.
This acquisition positions Tessolve among a select group of design firms worldwide capable of delivering turnkey design solutions for complex cutting-edge chips. It further strengthens Tessolve’s leadership in the industry by adding advanced capabilities in System on Chip (SoC) designs for the artificial intelligence (AI), automotive, data center, and industrial markets. The acquisition will also expand Tessolve’s European operations by adding four delivery locations across Germany and Netherlands, including a specialized ADAS & imaging center-of-excellence lab, reinforcing Tessolve’s commitment to providing cutting-edge semiconductor and embedded design solutions while expanding its market share in the semiconductor services sector.
“This acquisition solidifies our position as a top tier semiconductor engineering firm globally with unmatched design to productization capabilities,” said Srini Chinamilli, Co-founder & CEO of Tessolve. “Dream Chip’s capabilities further strengthen our ability to take on leading edge ASIC design projects and greatly enhances our European footprint,” he added.
Dream Chip Technologies, headquartered in Germany with a highly capable team of specialized engineers and solution architects, is recognized as one of the leading semiconductor design service companies in the region, particularly for its expertise in complex digital designs. Its chip architecture and front-end design capabilities combined with Tessolve’s strengths in chip design and unparalleled excellence in post-silicon test and packaging design, will enhance the company’s ability to deliver full chip turnkey design solutions from specification to volume silicon production thereby delivering critical “time to market” advantage and “operational excellence” to customers. The acquisition is a 100% cash transaction.
“We are excited to join forces with Tessolve and bring our expertise in digital chip design and embedded software to a global platform. By combining our design capabilities and IP with Tessolve’s established semiconductor services and embedded solutions, we can offer our customers a truly end-to-end solution from chip architecture to post-silicon test and supply chain management for their most complex designs,” said Jens Benndorf, CEO of Dream Chip Technologies. “Together, we will push the boundaries of innovation in automotive and enterprise designs, particularly in camera-based systems and AI-driven ASIC applications,” he added.
Mr. Ujjwal Munjal, Chairman of Tessolve, remarked, “Over the past few years, Tessolve has demonstrated impressive growth and resilience. With the synergy brought by Dream Chip Technologies, I am confident that Tessolve is poised to become a world leader in this space with unparalleled capabilities. As major companies increasingly shift towards custom chip design, this acquisition positions Tessolve more strongly than ever to meet the growing demands of the custom chip market.”
