KPIT, Sankalp in pact for semiconductor hardware solutions

KPIT Cummins Infosystems on Tuesday said it has carved out its semiconductor hardware solutions business in partnership with privately-held Sankalp Semiconductor, to form a wholly owned subsidiary named Sankalp & KPIT Semiconductor.

KPIT Cummins provides product engineering and IT consulting services to global automotive, transportation, manufacturing and energy clients. It will acquire a strategic minority stake in Sankalp Semiconductor.

KPIT Cummins said that the new entity will be one of the world's largest analog and mixed signal design services provider catering to North American, European and Japanese semiconductor companies and their captive centres in India, with primary focus on automotive, consumer electronics and computing and communication industries.

KPIT Cummins shares were up 1.1% at Rs 120 on NSE in late trading on Tuesday.