CYIENT SUBSIDIARY TO ACQUIRE STAKE IN US BASED POWER SEMICONDUCTOR COMPANY

Cyient Semiconductors Singapore Pte Ltd, a wholly owned subsidiary of

will acquire over 65% stake in Kinetic Technologies USA, a power semiconductor player headquartered in San Jose, for a total value of US$93 million (equivalent to Rs 846 crore). Kinetic’s current leadership team and engineering organisation will continue to operate the company. Cyient Semiconductors will provide strategic direction and board oversight to ensure continuity for customers, partners, and employees. With a market cap of Rs 12,842 crore, the company has been maintaining a healthy dividend payout of 50%. With such acquizitions in the pipeline, the company's profits are set to soar which will benefit long term investors by way of dividends.