Accenture Acquires Bengaluru-Based Chip Design Startup Excelmax

IT major Accenture has acquired Bengaluru-based chip design startup Excelmax Technologies for an undisclosed amount.

In a statement, Accenture said that the acquisition will enable it to further enhance its semiconductor design and engineering capabilities. The transaction will also allow the company to accelerate the adoption of edge computing solutions among its clients. 

The deal will also see Excelmax’s nearly 450 employees spanning areas such as emulation, automotive, physical design, analog, logic design and verification join Accenture. 

On the other hand, the deal is expected to enable Excelmax to leverage the IT services giant’s customer base to fuel its growth amid rapid adoption of GenAI by IT services companies. 

It was not clear whether the current top leadership will continue to be at the helm of affairs of Excelamax post the transaction. 

“Our acquisition of Excelmax enhances our expertise across every aspect of silicon design and development—from concept to production—so we can help our clients fuel innovation and drive growth”, said group CEO of technology at Accenture, Karthik Narain.

Commenting on the acquisition, Excelmax cofounder and CEO Shekhar Patil said, “Our focus has always been on developing the best talent to deliver tailor-made solutions for our global clients that help them build and maintain competitive advantage… Joining Accenture enables us to remain at the forefront of innovation, providing new and exciting opportunities for both our clients and our people”.

Founded in 2019, Excelmax offers semiconductor design solutions for its clients in automotive, telecommunications and other sectors. It also claims to offer other semiconductor solutions from high level designing to and full turnkey execution. 

The development comes just days after Tessolve CEO Raja Manickam announced the launch of his fabless semiconductor startup, iVP Semi. The Chennai-based startup also raised $5 Mn in funding from multiple investors to design semiconductors at its upcoming plant in Tamil Nadu. 

Meanwhile, both domestic and global giants including the Tata Group and US-based Micron Technology and CG Power have lined up funds to scale up investments in the country. The interest in India comes on the back of subsidies and sops offered by the union government for semiconductor manufacturing in the country. 

The rising GenAI adoption and demand for electronics has also fueled the semiconductor boom both globally and domestically. As per an Inc42 report, the Indian semiconductor space is projected to soar to a market size of $150 Bn by 2030.