Tessolve's Strategic European Expansion through Dream Chip Acquisition

Tessolve is set to acquire Dream Chip Technologies, a German semiconductor chip design firm, for 42.5 million euros in an all-cash deal. This strategic move will enhance Tessolve's European footprint, introducing four new delivery sites in Germany and the Netherlands, and a specialized ADAS and imaging center.

In a major strategic move, semiconductor company Tessolve announced it will fully acquire the German-based chip design firm Dream Chip Technologies in an all-cash transaction valued at 42.5 million euros, or approximately Rs 400 crore.

The acquisition marks a significant step for Tessolve, expanding its presence in Europe by establishing four new delivery locations across Germany and the Netherlands. This includes the addition of a specialized ADAS and imaging center of excellence lab, according to Tessolve's official statement.

Speaking on the acquisition, Tessolve emphasized its commitment to strengthening its European operations through this definitive agreement to acquire 100% of Dream Chip Technologies, a noteworthy player in the semiconductor sector based in Germany.

(With inputs from agencies.)