Global chip-maker & tech giant, Intel Corporation has acquired Hyderabad-based semiconductor startup, Ineda Systems, for an undisclosed amount., in an all-cash deal sealed in last week, reported Times of India,
As part of the acquisition, which is mainly for the skill-sets of Ineda's workforce rather than its products or services, Intel has acqui-hired around 100 engineers of Ineda for their skills in graphics.
With this acquisition, Intel will get a ready-made experienced SOC (System On a Chip) team to help build a world-class discrete GPU business.
Founded in 2011, by industry veterans from US and India Dasaradha Gude and Balaji Kanigicherla, Ineda was working with an ultimate goal of becoming a leader in developing low power SOC’s (System On a Chip) for the use in both consumer and enterprise applications.
(Image - Ineda@Linkedin.com)
Ineda operates in the sphere of autonomous driving, artificial intelligence and Internet of Things (IoT). The company has even managed to raise over $60 Mn from high profile investors, including Cisco, Samsung Catalyst Fund, Qualcomm Ventures, Walden-Riverwood Ventures and Imagination Technologies, among others.
Intel has some ambitious plans in the area of graphics and has been working towards building a stronger team to scale its business and strengthen its current products and solutions. Hence, instead of only focusing on acquiring businesses for their products and services, Intel is adding more people capabilities.
Currently, Intel has a few hundred engineers engaged in software development in Hyderabad. But with acquisition of Ineda and its plan to set up a global technology center in Hyderabad it will be increasing its headcount. The new Hyderabad center may have around 1,500 engineers initially, which may be ramped up to 5,000 people.
While Intel is continuously working on increasing its workforce and building its capabilities, time will tell how they will help in accelerating the business.
In September last year, Intel had acquired NetSpeed Systems, a San Jose, California-based provider of system-on-chip design tools and interconnect fabric intellectual property. NetSpeed was founded by Indian entrepreneurs - Sundari Mitra and Sailesh Kumar.
In the same month, Bengaluru-based chip design (VLSI) services company, SeviTech Systems, got acquired by UST Global, a California, US-based company backed by Singapore’s sovereign wealth fund Temasek .