Semiconductor firm Tessolve raises $150 mn from TPG Growth for acquisitions, expansions
Mumbai: Bengaluru -based Tessolve, which provides semiconductor engineering services, said on Monday that the investment company TPG Inc.’s acquisition, expansion of test laboratories and strengthening global distribution centers won $ 150 million.
Tessolve, which was largely owned by Hero Electronix, attracted several corporate supporters, including Singapore -based Novo Tellus Capital Partners, which invested $ 40 million in 2021. The company’s income rose from $ 25 million to $ 25 million in 2015-16.
Founding and General Manager Tessolve Srini Chinamilli said, for the past few decades, Tessol, and produced deep abilities from chip architecture to the semiconductor engineering value chain to design, test development and embedded systems, ”he said.
TPG Growth business unit partner Bhushan Boardikar, “Years have passed, a test engineering laboratory has grown to a full -scale semiconductor engineering services provider and has end -to -end capabilities in the semiconductor value chain,” he added.
Jeferveries served as the financial advisor of Rothschild TPG, while making advice to Tessolve about the transaction.
Semiconductor driver
Considering a wide variety of applications among industries such as semiconductors, data centers, automobiles and artificial intelligence, it has become very important for the global economy. In a final report, Deloitte said that the global semiconductor industry expects the next 15 years to rise from $ 627 billion to $ 2 trillion in the next 15 years.
Founded in 2004, Tessolve built globally 11 semiconductor tests and embedded laboratories. According to the company, it has established partnership with 18 of the world’s top 20 semiconductor companies and employs more than 3,000 engineers in offices in India, USA, Germany, England, Singapore and Malaysia.
Hero Electronix entered the semiconductor area in 2016 with a majority shares in Tessolve. Founded in 2015, Hero Group’s technology lever, Smart Security devices, Enterprise’s internet company Zenatix, and a connected media devices business, also supported Qubo operating in Mybox.
