Accenture bolsters semiconductor capabilities with Cientra acquisition

11 Jul 2024 , 04:29 PM

Accenture announced its acquisition of Cientra, a silicon design and engineering services company, on July 10, expanding its capabilities in semiconductor innovation.

Cientra, founded in 2015 and headquartered in New Jersey, US, also operates from Frankfurt, Germany, and Bangalore, Hyderabad, and New Delhi in India.

The acquisition aims to meet growing demands in data center expansion, cloud computing, wireless technologies, edge computing, and AI-driven technologies.

At the time of writing on July 11, 2024 at 4:25 pm, shares of Accenture closed at Rs 295.44 which is a 0.88% dip than the previous close. The stock has witnessed a 4% dip in the last one year, and 14% since the beginning of the year.

Karthik Narain, Accenture’s group chief executive for Technology, emphasized that the acquisition enhances their silicon design and engineering capabilities.

Cientra specializes in embedded IoT consulting and application-specific integrated circuit design and verification, complementing Accenture’s existing strengths.

This strategic move underscores Accenture’s commitment to helping clients maximize value and innovate in the semiconductor space.

With a workforce of approximately 530 engineers, Cientra brings extensive experience in automotive, telecommunications, and high-tech industries to Accenture.

Anil Kempanna, CEO of Cientra, highlighted the opportunity to scale globally and drive growth for clients and employees through this acquisition.

Accenture’s acquisition of Cientra follows recent additions like Excelmax Technologies and XtremeEDA, reinforcing its leadership in semiconductor design services.

Headquartered in Dublin, Accenture specializes in IT services and consulting, serving a significant portion of the Fortune Global 500 and reporting substantial revenues annually.