Cyient Limited — Updates, 28-10-2024: Press Release

Cyient Ltd. has acquired a 27.3% stake in Azimuth AI, a company specializing in custom ASICs for intelligent energy solutions. This strategic investment enhances Cyient's semiconductor capabilities, aligning with India's push for domestic innovation in chip development. Cyient aims to leverage Azimuth AI's expertise to develop cutting-edge ASIC chips, reinforcing its commitment to next-generation power solutions and driving growth in the semiconductor industry.