Tessolve secures $75 million for semiconductor engineering acquisitions

Tessolve Semiconductor has secured a $75 million investment from US-based Vector Line Capital to expand through acquisitions, CIOL reported. The Bengaluru-based Hero Electronix company plans to add engineering capabilities and extend its global presence. Vector Line joins existing investors TPG and Novo Tellus. Tessolve provides chip architecture, design, validation, testing and embedded systems services. It employs more than 3,500 engineers across 10 countries and operates nine laboratories. The company is in advanced discussions for multiple acquisitions it expects to close over the next couple of quarters, but has not disclosed targets, potential valuations or allocations for individual transactions.