ASM and Semcon have Entered into a Global Cooperation Agreement

CIOReviewIndia Team | Friday, 30 October 2020, 13:29 IST

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ASM Technologies Limited (ASM) announced its acquisition of Semcon’s offshore Indian delivery centre. Semcon, which is headquartered in Sweden, an international technology company, helps customers in the transformation of technology into excellent user experiences by combining premium physical and digital solutions.

With 2+ decades experience in semiconductor building, ASM, hi-tech automotive and medical industries, and Semcon’s large number of clientele in the automotive industry, energy and life science sectors, will benefit ASM Technologies, from a combined talent pool, with domain expertise in diverse industry verticals. Specifically, ASM will develop both scale and competence, relevant to the automotive industry, while transitioning new propulsion systems and ever increasing levels of driver assisted and autonomy.

ASM and Semcon have entered into a Global Cooperation Agreement for providing Semcon India’s continuous access to unrivalled scale and capability base for engineering services. In line with the agreement, ASM will also deliver services to the Scandinavian market, while leveraging Semcon’s customer-facing team. Both ASM and Semcon will collaborate to scale by reciprocal access to a combined talent pool and strong abilities in fields of Product Design and R&D, Embedded and Electronics, Value Engineering, Digital Engineering and Manufacturing Engineering.

Rabindra Srikantan, Managing Director, ASM Technologies Limited, said, “The acquisition further strengthens our proposition for our clients while providing us with the additional scale and growth. We want to take this opportunity to welcome Semcon India employees into our fold and supporting us in our growth. The global agreement is a win-win deal since both the companies complement each other well in terms of respective capabilities and market leadership. We are eager to be joining forces with Semcon to accelerate innovation at scale for customers in existing and new markets.”

Markus Granlund, President and CEO of Semcon, said, “Our activities in India need to be scaled up in order to ensure delivery capacity and long-term profitability. We have reviewed different options to strengthen the operations in India. Instead of doing so organically, we have chosen to divest the operations to ASM Technologies, which already has a strong presence in India. At the same time, we have entered into a strategic cooperation agreement. This enhances value for our customers while allowing us to create the conditions to focus on other prioritized growth areas.”

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