U.S tech giant Intel Corporation acquires Indian startup Ineda Systems

  • The American semiconductor chip manufacturing company has been acquiring new technologies & skilled talent
  • Intel's latest purchase is an acqui-hire, where Ineda was primarily acquired for its skilled talent pool
Renowned American semiconductor chip manufacturing company, Intel Corporation (Intel) has reportedly acquired a Hyderabad-based Indian startup, Ineda Systems, a fabless semiconductor maker. Reports cite, the American technology giant has been searching the market to look for new technologies as well as highly-skilled talent. The latest purchase, which is being announced as an acqui-hire, comes under these efforts. According to a report by VCCircle, as part of the acqui-hire, all of Ineda's existing employees would be joining Intel as its new employees. However, for some legal purposes, Ineda Systems would continue to operate as a separate entity. Reports claim, the American firm has brought approximately 100 Ineda engineers onboard for their skills in the field of computer graphics, a domain where the company has outlined ambitious plans. The company would also be acquiring the leased office space in Kondapur, which is situated near the Google campus and presently houses Ineda System's engineering talent. The founder of Ineda Systems, Dasaradha Gude reportedly confirmed the acquisition, but declined to divulge any further details related to the discussions or the transaction that was carried out between the two enterprises. A spokesperson from Intel Corp. stated, the company has procured engineering resources from the Hyderabad-based startup. The spokesperson further added that this transaction would be providing the company with a System-On-Chip (SOC) team that is experienced in the field and can help Intel develop a world-class business of discrete GPUs. For the record, Ineda Systems was established in 2010-2011 and operates in the domain of artificial intelligence (AI), autonomous driving and Internet of Things (IoT). The firm is known for its low-power Dhanush chips designed for wearable devices. According to reports, the financial details related to the acqui-hire have not been unveiled by both enterprises yet.