With the acquisition, ASM would benefit from a combined talent pool with domain expertise in diverse industry verticals, said the company in a press release.
“In particular, ASM will build both scale and competence, relevant to the automotive industry as it transitions to new propulsion systems and ever-increasing levels of driver assistance and autonomy,” said the company.
ASM has been providing solutions to semiconductor, hi-tech, automotive and medical industries, while Semcon works with a large number of clients in the automotive industry, energy and life science sectors.
ASM and Semcon have also entered into a Global Cooperation Agreement to provide Semcon continued access to India’s unrivalled scale and capability base for engineering services.
As a part of the agreement, ASM will also deliver services to the Scandinavian market leveraging Semcon’s customer-facing team.
Both the companies will collaborate to scale by reciprocal access to a combined talent pool and strong capabilities in key areas such as product design and R&D, embedded and electronics, value engineering, digital engineering and manufacturing engineering.
“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,” said Rabindra Srikantan, managing director, ASM.