MIC Electronics Limited has completed the acquisition of a 59% stake in Singapore-based Neo Semi SG Pte Ltd through a share-swap transaction, marking an important step in the company’s expansion into technology-led businesses.As part of the transaction, MIC Electronics has allotted 5.68 crore equity shares to the selling shareholders of Neo Semi SG as consideration for the acquisition. The allotment follows in-principle approvals received from BSE Limited and the National Stock Exchange of India Limited.
With the completion of the transaction, Neo Semi SG becomes an important part of MIC Electronics’ growth plans in emerging technology areas. Neo Semi SG is a Singapore-incorporated deep-tech platform engaged in semiconductor intellectual property creation, AI-driven energy logistics, IoT-based smart-grid solutions and circular electronics. The company operates through subsidiaries in India and the UAE.
The acquisition is expected to help MIC Electronics expand its presence beyond its existing technology businesses and explore opportunities in sectors driven by advanced electronics, artificial intelligence, semiconductor technologies and digital infrastructure.
MIC Electronics is currently engaged in LED display solutions, electronic systems and digital infrastructure solutions across transportation, smart cities and public information systems. The addition of Neo Semi SG is expected to broaden the company’s technology portfolio and provide access to new areas of business.
Commenting on the development, Rakshit Mathur, CEO of MIC Electronics, said, “The completion of the acquisition of a 59% stake in Neo Semi SG marks an important milestone for MIC Electronics. The transaction strengthens our focus on technology-led opportunities and represents a meaningful step in our strategic expansion.”
“We look forward to building on this development as we continue to pursue opportunities that can contribute to our long-term growth,” he added. The acquisition has been completed following the required regulatory approvals and the share allotment process undertaken by MIC Electronics.
Neo Semi SG brings capabilities across several emerging technology areas that are gaining importance globally. These include semiconductor IP development, artificial intelligence applications for energy logistics, smart-grid technologies and solutions supporting circular electronics.
The transaction also reflects MIC Electronics’ focus on identifying businesses that can complement its existing operations while creating opportunities in new technology segments. The company believes the acquisition will help strengthen its long-term technology roadmap and support its efforts to build capabilities in areas linked to future digital and electronic infrastructure.
MIC Electronics Limited is a Hyderabad-based technology company specialising in LED display solutions, electronic systems and digital infrastructure solutions. The company serves sectors including transportation, smart cities and public information systems and continues to explore new technology opportunities to support its future growth.
