Intel Corporation has quietly acquired Hyderabad-based startup Ineda Systems which is a low-key fabless semiconductor product company for an undisclosed amount.
The deal was more of an acquihire where a company is acquired primarily for the skills and expertise of its staff, instead of for the services or products it supplies. As per the report, it seems to be around 100 engineers have been acquired by giant chip maker Intel, based on their skills in graphics.
Serial entrepreneur Dasaradha Gude founded Intel spokesperson in 2010-11. The startup operates artificial intelligence, IoT, and autonomous driving.
Intel spokesperson stated that “Intel acquired engineering resources from Ineda Systems, a silicon and platform services provider based in Hyderabad. This transaction provides Intel with an experienced SOC (system on chip) team to help build a world-class discrete GPU business,”
The company rose to fame for development and design of low-power Dhanush Chips particularly for wearable devices and raised over $60 million fundings from Qualcomm Ventures, Samsung Catalyst Fund, Imagination Technologies, Walden-Riverwood Ventures, among others.
IT minister K.T.Rama Rao officially announced in November 2018 that Intel Corporation is planning to build a global technology center in Hyderabad making space for nearly 1500 engineers who might increase up to additional 5000 people.