SEMICONDUCTOR ACQUISITIONS
Qcomm’s worker woes; Capillary’s IPO moves
Quick commerce platforms are facing challenges in hiring and retaining delivery drivers amid rising competition. This and more in today’s ETtech Morning Dispatch
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Big Tech’s acqui-hire strategy heats up as demand for AI talent soars
In the last two years, large technology players have been acquiring AI startups for their technology teams. Microsoft paid $650 million in a licensing deal to Inflection AI, whose cofounder Mustafa Suleyman is now heading Microsoft AI. In a similar licensing deal, Amazon hired AI startup Adept cofounder David Luan and others who joined Amazon's AGI team.
ET Exclusive: Global shocks won’t alter our plans for India, says Masahiro Kihara, CEO Mizuho Financial Group
India’s growing economy, young workforce, and expanding export base make it a key market for Mizuho Financial Group, according to CEO Masahiro Kihara. The Japanese banking major sees India as a long-term strategic partner and is considering additional investments beyond the $500 million capital already deployed.
Groww FY25 profit triples; Qcomm growth beyond metros
Happy Friday! IPO-bound fintech major Groww has reported a three-fold jump in its net profit for FY25. This and more in today’s ETtech Morning Dispatch.
Paytm, Mobikwik shares slip; US onsite visas stall
Paytm and Mobikwik stocks slide after MDR rumour sparks selloff. This and more in today’s ETtech Top 5.
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Indian firms target overseas assets to fast-track semiconductor ambitions
Indian firms including Tata Electronics and L&T Semiconductor Technologies (LTSCT) have recently made significant moves to acquire foreign assets even as they invest in greenfield facilities within the country.
Kaynes Technology shares in focus after unit inks Rs 85 crore asset deal with Fujitsu General Electronics
Kaynes Technology shares: The agreement, signed on June 9 and valued at 1.59 billion yen (approximately Rs 85 crore), involves assets including power module production lines. These assets are expected to strengthen Kaynes Technology’s capabilities and presence in the semiconductor manufacturing sector, particularly in the power module segment.
Qcomm cos on govt radar; Tata upskills in Taiwan
Happy Wednesday! The government may step up surveillance on quick commerce dark stores over rising hygiene concerns. This and more in today’s ETtech Morning Dispatch.
Cred’s down round; Blinkit’s food safety woes
Happy Tuesday! Cred has raised fresh funding at a steep cut in valuation. This and more in today’s ETtech Morning Dispatch.
ETMarkets Smart Talk | India’s Next Big Themes: AI, Semiconductors & Defense to lead wealth creation says Manish Jain
Manish Jain from Mirae Asset Capital Markets highlights AI, defense, digital economy, semiconductors, and renewables as key sectors for long-term wealth creation in India. He suggests that tariff war fears are not the main volatility driver, but geopolitics and earnings shocks could be.
Kaynes Semicon, L&T arm to acquire Fujitsu General’s power modules business
Fujitsu will transfer the business to Larsen & Toubro’s fabless chip company and related production facilities to Kaynes, which will in turn manufacture these products for LTSCT, the companies said.
Qualcomm strengthens AI portfolio with $2.4 billion Alphawave deal
Alphawave, which designs and licenses semiconductor technology for data centers, networking and storage, had garnered takeover interest from Qualcomm and SoftBank-owned chip tech provider Arm in early April for its 'serdes' technology. The technology underpins the speed at which data is processed by chips - crucial for AI development - and serves as the foundation for Broadcom's and Marvell Technology's multibillion-dollar bespoke chip businesses.
Qualcomm to acquire UK's Alphawave for $2.4 billion
US chipmaker Qualcomm on Monday agreed to acquire British semiconductor company Alphawave for about $2.4 billion.
Batteries, EVs under threat? India fires on all cylinders for rare earths amid China's tightening grip
India is accelerating its efforts to secure critical mineral supplies, driven by China's increasing control over rare earth elements. New Delhi is forging partnerships with Central Asian nations and implementing an incentive scheme for mineral recycling under the National Critical Mineral Mission.
Defence exports signal India's rise as regional security provider
Under Modi 3.0, India emphasizes delivery over rhetoric, evident in mandates and initiatives like PM-KISAN and Ayushman Bharat. Operation Sindoor showcased India's defense capabilities, bolstered by the Atmanirbhar Bharat mission and rising defense exports. The nation's startup ecosystem thrives, alongside advancements in digital infrastructure and strategic investments, paving the way for economic growth and national renewal.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Rohit Kapoor on Swiggy’s food delivery slowdown; Group life insurance gains traction
Happy Tuesday! As the food delivery market cools, aggregators are scrambling to find growth avenues. This and more in today’s ETtech Morning Dispatch.
Tata Electronics eyes Malaysia foray via chip fab acquisition
Malaysia's expertise in assembly, testing, marking and packaging (ATMP) along with its mature ecosystem, abundant skilled workforce, robust supply chain and government support make it a preferred destination, according to analysts. Also, the Malaysian government’s National Semiconductor Strategy, announced in May 2024, offers a significant incentive structure to attract investments.
AI, transformation-led deals likely to fuel IT M&As: Experts
Since the beginning of 2024, Infosys—India’s second largest IT major— has made four acquisitions in engineering R&D and semiconductor design services space, including two announced in April in cybersecurity and energy consulting areas. Its smaller rivals HCLTech and Wipro acquired two firms each while LTIMindtree purchased Voicing.AI in December. These came after a lull of almost no acquisitions in 2023.
Sony to make case for finance arm spin-off in latest corporate transformation
The company plans to distribute just over 80% of its shares in Sony Financial Group, which includes banking and insurance, to shareholders through dividends in kind. It is the first partial spin-off in Japan taking advantage of a 2023 tax change and the first direct listing - set for September 29 - in more than two decades.
JPMorgan expands tech team with four veteran bankers from BofA, Goldman, Lazard
JPMorgan is strengthening its technology investment banking team with key hires from Goldman Sachs, Bank of America, and Lazard. The expansion, focused on the West Coast, supports major tech deals including Global Payments’ $24.25 billion Worldpay acquisition and CoreWeave’s $23 billion debut, reinforcing JPMorgan’s commitment to the tech sector.
Telangana CM Revanth Reddy seeks PM Modi's nod for Rs 24,269 cr Hyderabad Metro Phase-II, defence corridor status
Telangana Chief Minister A Revanth Reddy met Prime Minister Narendra Modi. He requested approval for the Hyderabad Metro Rail Phase-II project. The project costs Rs 24,269 crore. Reddy also sought recognition for the Hyderabad-Bangalore defence corridor. He highlighted Telangana's semiconductor ecosystem. Reddy requested support for India's Semiconductor Mission projects. He also asked to host the next DefExpo in Hyderabad.
Multibagger or IBC - Part 6: Will change in focus to EV make this auto ancillary company a major automaker?
The year was 2016. At a time most of its peers were wondering how they could adapt to survive the EV transformation in the auto sector, this auto ancillary had not only made the pivot but had actually switched to becoming an EV OEM. That year, it launched its first electric bus! In addition, today, as rivals are worrying about US tariffs, this company is doubling down on India and select international markets through a mix of aggressive tender wins, strategic JVs, and capital infusion from global institutions.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
Samsung Electronics to buy German cooling system maker FlaktGroup for $1.7 billion
Samsung Electronics will acquire FlaktGroup for $1.68 billion. This acquisition aims to meet the cooling demands of data centers. The deal is expected to close this year. Samsung seeks growth in AI chips and other sectors. Investors had hoped for larger deals involving Samsung's chip business. The company is expanding into consumer audio, cooling, heating, medical, and robotics.
Vedanta shares in focus amid critical mineral exploration, expansion plans
Vedanta has secured four blocks in the fourth round of the critical mineral blocks auction. The acquisitions include vanadium and graphite reserves in Arunachal Pradesh, a polymetallic mine in Karnataka, and tungsten-related assets in Andhra Pradesh and Tamil Nadu.
Wall St futures soar after US-China agree to pause most of their sharp tariff increases
U.S. futures surged Monday after the U.S. and China announced they were suspending for 90 days most of the sharp tariff hikes each has imposed since U.S. President Donald Trump began escalating his trade war.
Murugappa Group 3-way split talks are back on track
Murugappa Group's promoters are actively working towards a new family settlement. The goal is to resolve disagreements and facilitate a three-way split. Advisors are helping with a legally sound and tax-efficient separation structure. The evolving consensus includes right of first refusal on share transfers. Businesses with higher valuations will contribute proportionately.
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