MosChip Semiconductor Technology, Hyderabad, is acquiring elitePLUS Semiconductor Technologies Pvt. The final agreements have been signed and the acquisitions are part of the company’s growth plans in the Internet of Things sphere and semiconductor industry. These would also help expand the client base in the North American, EU, and APAC regions, MosChip announced on Monday. MosChip plans to add another 150 to 200 engineers across all locations, according to a release from the company. To fund the acquisitions and additional working capital requirements, MosChip had obtained its Board approval to raise an additional Rs.

Source: The Hindu September 12, 2016 17:37 UTC