Hyderabad, Apr 26 (PTI): City-based IT firm Cyient Limited today said its European subsidiary has acquired semiconductor company AnSem of Belgium.

Though the company officially did not disclose the value of the acquisition, sources close to the development said it was USD 17 million.

Through the acquisition, Cyient will be able to offer solutions in the areas of Internet of Things (IoT) and turnkey integrated circuits to its clients, the company said.

AnSem specialises in advanced analog, radio frequency, and mixed-signal integrated circuit design and provides custom ASICs (application-specific integrated circuits) for clients around the world across key industries, including automotive, medical, industrial, smart home, and smart grid, a Cyient release said.

Suman Narayan, Senior Vice President for Semiconductor, IoT (internet of things) and Analytics, Cyient, said AnSem"s leading-edge, capabilities allow Cyient to offer turnkey ICs, starting from concept circuit to final production.

"Through this acquisition, Cyient can help its clients develop smart analog sensors to capture data, while leveraging our IoT and analytics solutions to provide actionable insights," he said.

Shares of Cyient today closed at Rs 763 apiece, up 3.90 per cent over the previous close on the BSE.

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