Infotech Enterprises Ltd said on Monday it will acquire California-based Time To Market Inc, through its unit Infotech Enterprises America Inc.
Time To Market is focused on the niche area of backend physical design for several semi conductor manufacturers.
The acquisition will enable Infotech to foray into the lucrative hitech markets, the firm said in a statement, adding that it will also pursue other acquisitions in the hitech domain.
Hitech design services cater to various segments including semi-conductor, computing, telecom and industrial automation.
In a related move, Infotech Enterprises will also buy Time To Market’s India unit, TTM India Pvt Ltd.
Shares of Infotech were up 2.11% at Rs229.50 rupees in the Mumbai market.