Cyient launches semiconductor subsidiary to capitalize on market growth

Cyient (BSE:CYIENT) announced the launch of Cyient Semiconductors, a wholly owned subsidiary focused on ASIC solutions. The move aims to leverage the growing demand in the semiconductor sector, projected to reach USD 2 trillion by 2032. Cyient Semiconductors will offer end-to-end ASIC turnkey and IC design services, contributing to India's self-reliance in the semiconductor ecosystem. Suman Narayan has been appointed as CEO. Cyient, which has provided ASIC turnkey solutions for over 25 years, will build high-performance teams across India, the U.S., Germany, Belgium, the Netherlands, and Taiwan. The company sees the new subsidiary capitalizing on long-standing customer partnerships and a strong IP portfolio.