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EE Times-India
 
 
EDA/IP  

MindTree acquires TES-Purple Vision

Posted: 16 Nov 2007  Print Version  Bookmark and Share

Keywords:IC design  DFT  EDA methodologies 

MindTree Consulting Ltd. has announced that it has signed a definitive agreement to acquire 100 per cent of the equity in TES-PV Electronic Solutions Private Limited ("Purple Vision"), the India-based, fully-owned subsidiary of TES Electronic Solutions SA.

MindTree will acquire Purple Vision in an all-cash deal of Rs.25.91 crore ($6.55 Million). The company is expecting to complete the closing conditions in 4-6 weeks.

Purple Vision is a 150-person subsidiary of TES Electronic Solutions, providing differentiated services in the IC Design area. Founded in 2000, Purple Vision was acquired by TES in 2005. The company has achieved multiple, full-chip turnkey designs and has participated in over 150 silicon designs with an unprecedented success rate of over 95 per cent in the first pass silicon. It has emerged as a leading third-party service provider in Design for Testability (DFT), having developed and licensed its Intellectual Property in EDA methodologies. Purple Vision's customers include eight of the world's top 10 semiconductor companies and three of the top 10 companies in each of consumer electronics, networking and telecom systems industries.

"With the acquisition of Purple Vision, MindTree's IC Design team will be a formidable size of 350 professionals, making it one of the largest independent design services organisations in India. The domain expertise of Purple Vision will fully complement MindTree's existing offerings, enabling us to bid for end-to-end chip design projects. Our combined strength and rich experience in IC Designs, Embedded and Application software will enable us to attain global leadership in offering turnkey design services to our customers globally," said Janakiraman S, MindTree Consulting president and CEO, R&D Services.

Commenting on MindTree's acquisition of its IC Design Services arm, Michel Desbard, TES Electronics Solutions chairman and CEO, said, "TES wants to focus on growing and developing its embedded hardware and software capability in India as part of our overall Custom Design and Manufacturing strategy. We intend to grow the core team in Bangalore based on these competencies. We are happy that our team of IC design experts will now become part of MindTree and contribute to their business growth in high-end IC Design Services."




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