Chennai, January 11: Software major Infosys Ltd on Thursday said it will acquire InSemi, a semiconductor design and embedded services provider, for Rs 280 crore.

In a regulatory filing, Infosys said the acquisition of Rs 153.6 crore revenue InSemi is expected to close during the fourth quarter of fiscal 2024, subject to customary closing conditions. InMobi Layoffs: SoftBank-Backed Mobile Advertising Giant Planning To Lay Off 125 Employees in Its Second Round of Job Cuts.

"Consideration including earn-outs, and management incentives, and retention bonus totaling up to INR 280 crores subject to customary closing adjustments," Infosys said. Meta Faces New EU Complaint Over 'Pay for Privacy' Consent Practices by Privacy Rights Advocacy Group Noyb.

The Bengaluru headquartered InSemi has a headcount of over 900 persons.

(The above story first appeared on LatestLY on Jan 11, 2024 05:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).