To design electronic products and solutions for B2B markets
To develop innovation lab for IoT (Internet of Things) companies, including start-ups
Focus on global companies in automotive, avionics, healthcare, transportation, industrial sectors
Bags global clients Lufthansa Technik, PGA-Astronics, GE Healthcare
Hero Electronix, the Hero Group’s maiden venture into the electronics sector, today announced the acquisition of the India business of TES DST Holding Europe, a leading electronics design Services Company headquartered in Germany. This business has been acquired through Tessolve Semiconductor, in which Hero Electronix took strategic stake in April 2016. With this new development, Hero Electronix now has a dedicated electronics system design arm. The new division, Tessolve Embedded Systems, will focus on supporting the design and manufacture of innovative electronic products for global companies. Tessolve Embedded Systems will do this by bringing together comprehensive capabilities in chip design, system design and embedded software that are available within Hero Electronix.
In future, Hero Electronix’ Tessolve Embedded Systems division will be the innovation lab for the IoT (Internet of Things) companies, including start-ups, across the country. The aim would be to offer the complete product development life cycle solution – from idea conceptualization to product development and manufacturing in ODM model.
The acquisition has extended Tessolve’s capabilities from chip design to developing digital systems and products. Going further Tessolve plans to further strengthen its capabilities in Analog Chip Design space. This acquisition is another step towards building Hero Electronix into a US$ 1 billion global digital products and solutions enterprise through investments in engineering-led and IP-driven businesses. Hero Electronix and its group companies plan to invest INR 1000 to 1200 crore in the next 5 to 7 years for expansion.
Commenting on the acquisition, Mr. Suman Kant Munjal, Chairman, Hero Electronix said: “With the aim of making Hero Electronix a US$ 1 billion global digital enterprise, we continue to add technological capabilities and expertise. With the new acquisition, Hero Electronix has entered a rapidly growing new domain – Embedded Systems Development.”
Mr. Ujjwal Munjal, Founder-Director, Hero Electronixsaid: “With this partnership Hero Electronix now has the expertise to offer sophisticated technological products encompassing embedded software and hardware development for domains like automotive, avionics, transportation, industrial and home automation. The acquisition is in line with Hero Electronix’ approach of investing in businesses that are engineering-led and IP-driven.”
Mr. P. Raja Manickam, CEO, Tessolve Semiconductor said: “We are witnessing a growing trend of semiconductor design work shifting to India. Ultimately, these semiconductors go into electronic products. While traditionally large product companies have taken advantage of the pool of design talent in India, there are aspiring entrepreneurial product companies increasing presence as well. Tessolve, with semiconductor knowhow and relationships, and with Tessolve Embedded Systems, is in a unique position to offer embedded product development solutions optimized for performance, cost and delivery. Now Tessolve will be able to provide end-to-end solutions from chip to embedded systems.”