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Hero Electronix acquires Malaysian firm SpectrumIT, test lab in Singapore

LiveMint logoLiveMint 29-08-2017 PTI

New Delhi: Hero Electronix on Tuesday said it has acquired Malaysia’s Spectrum Integrated Technologies (SpectrumIT) and test lab business of Singapore’s Lynxemi Pte for undisclosed sums.

The acquisitions have been carried out through Tessolve, the company’s venture in providing semiconductor engineering solutions. Through the acquisition of SpectrumIT, Tessolve will take over a printed circuit board (PCB) fabrication unit in Johor Bahru in Malaysia enabling it to offer a wide range of PCB manufacturing services.

On the other hand, acquiring the test lab business of Lynxemi Pte will give the company ownership of a test facility in Singapore that supports testing for new products of customers, the company said.

“These acquisitions are not of high value. They are more to do with enhancing our capability. These will help in Tessolve becoming a leader in end-to-end semiconductor engineering solutions provider,” Hero Electronix founder- director Ujjwal Munjal told PTI.

These will help in Tessolve offering solutions from chip design to testing and PCB engineering through embedded systems development, he added. “In the near term, these will add about 10-15% to Tessolve’s revenue,” he said.

Munjal said Lynxemi’s test facility in Singapore supports customers in tests for new product development and low volume production. “As it is strategically located in Singapore, this gives Tessolve the advantage to support global semiconductor costumers, especially those which are expanding in Asia,” he said.

Tessolve is panning to continue with its effort to have new test labs either through acquisition or set up on its own in Malaysia and Singapore, closer to where its customers manufacture their products.

On the overall growth of Hero Electronix, Munjal said the company had revenue of Rs600 crore last year. “This year, we are looking at 20% growth,” he added. Hero Electronix and its group companies have a total investment outlay of Rs1,000-1,200 crore till 2022.

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