Tessolve in talks to acquire two firms, eyes $500 mn revenue in 3-4 years
Semiconductor engineering services firm Tessolve, a Hero Electronix venture, is in active talks to acquire two more companies -- one based in the US and another in India -- as it targets annual revenue of over USD 500 million (about Rs 4,700 crore) within the next three to four years, its Co-Founder and Chief Executive Officer Srini Chinamilli said.
"We are in active talks with some companies we have not yet announced...
We are talking to one company in the US, and there is one local (Indian) company as well," Chinamilli told PTI in an interview, without naming the companies involved.
One of the deals is expected to close in the next couple of months, while the other is likely to be completed by the end of the current fiscal year, he said.
Most of Tessolve's acquisitions are aimed at adding capabilities or geographic presence the company does not already have, rather than purely boosting revenue, Chinamilli said.
Its most recent acquisition, Germany-based chip design firm Dream Chip
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