CHENNAI, India, Aug. 6, 2024 /PRNewswire/ -- In a strategic move to bolster its position in cutting-edge semiconductor chip fabrication and testing devices, Polymatech Electronics, India's first semiconductor chip maker, has officially announced its acquisition of Nisene Technology Group Inc., California, USA (www.nisene.co), a company with a 50-year history in the semiconductor industry. The acquisition was executed through Polymatech's wholly-owned subsidiary, Artificial Electronics Intelligent Materials Pte Ltd. in Singapore.
Nisene Technology Group is renowned for its pioneering work in the invention and development of semiconductors, particularly Integrated Circuits (ICs) built on Silicon and Silicon Carbide Wafers. Since its establishment in the 1970s, Nisene has remained at the forefront of innovation, continually enhancing IC and AI components to meet the growing complexity of today's semiconductor devices. Over the years, Nisene has designed at least 50 different types of ICs and registered numerous patents, solidifying its status as a cornerstone of the industry.
"The acquisition complements Polymatech's leading-edge product portfolio and enables the development of new classes of products," said Ryan Young, incoming CEO of Nisene. Nisene's expertise in Silicon and Silicon Carbide, combined with Polymatech's Sapphire-based semiconductors, creates a unique multi-wafer technology. This merger positions Polymatech as potentially the only company in the world with such a comprehensive semiconductor offering.
Polymatech will continue to produce Sapphire Wafers using advanced technology supplied by leading European tool suppliers, with the tools expected to be in their facility by the end of January 2025. This latest European technology employs a different, faster methodology for growing Sapphire, and as a result, Polymatech will transition to this new EU technology, having closed their previous agreement with Orbray. Additionally, their EU partner will also supply the latest Silicon Carbide Wafer Technology to the Polymatech group.
Strategically located in California, USA, the epicenter for the semiconductor industry, Polymatech plans to invest up to US $500 million. The company will produce Silicon Carbide and Sapphire wafers, high-performance CPUs, and GPUs for PCs and mobiles. Polymatech's unparalleled top-tier networking chips will enable the latest Wi-Fi and 6G standards. The company aims to achieve a top line of US $5 billion by 2030.
"With 50 years of experience and expertise in the semiconductor industry, Nisene has witnessed all developments from scratch. Now part of Polymatech, together we will create the next generation of semiconductors that are not only better but capable of more," said Eswara Rao Nandam, CEO of Polymatech Electronics.
"Polymatech's philosophy of doubling the processing power of chips and halving the price of a given level of computing power every 18 months will drive our business growth both vertically and horizontally. We will continue to introduce new products that enhance human life, enabling experiences like autonomous driving and machine learning," he added.
As Polymatech grows exponentially, Nisene will continue to enhance its product line with the latest in technology and innovation. The goal is to meet the demands of each of the industries they support with reliable, accurate, and safe products.
Media contact: Merlyn Fernandes | +91 98334 36855 | merlyn.fernandes@communicateindia.com
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