Tessolve to acquire Dream Chip Technologies for 42.5 million euro

Semiconductor firm Tessolve on Wednesday said it will completely acquire Germany-based semiconductor chip design firm Dream Chip Technologies for 42.5 million euros (about Rs 400 crore) in an all-cash deal.

The acquisition will also expand Tessolve's European operations by adding four delivery locations across Germany and the Netherlands, including a specialised ADAS and imaging center of excellence lab, the company said in a statement.

"Tessolve today announced the signing of a definitive agreement to acquire 100 per cent of Dream Chip Technologies, a semiconductor chip design firm headquartered in Germany, for a consideration of up to Rs 400 crore (42.5 million euros)," the company said.