Hero Electronix, which marked Hero Group’s foray in the electronics sector last year, has acquired a strategic stake in Tessolve Semiconductors, a Bengaluru-based semiconductor test engineering services company, for an undisclosed sum.
This is the second acquisition for the company after it acquired a majority stake in multi-operator set-top-box manufacturer MyBox Technologies last year. Ujjwal Munjal, Founder-Director, Hero Electronix, said the company will complete a phased acquisition of a significant majority stake in Tessolve Semiconductors by the year-end. Hero Electronix and its subsidiaries also plan to cumulatively invest about ₹1,000-1,200 crore in the next five-seven years. Tessolve Semiconductors offers engineering services in design and test and product engineering, systems design among others.