About the Company: Founded in 2013 by Shreekanth Sampigethaya and Arup Dash, InSemi Technologies has been a market leader in semiconductor design and embedded systems. With expertise across RTL & ASIC design, Physical Design, Verification, DFT, STA, IP Design, Emulation, and FPGA services, the company has executed multiple advanced-node ASIC tape-outs, scaling down to 5nm. Over 11 years, InSemi grew into a 1,000+ member team with a robust delivery engine and high client retention. Their services power high-performance, connected products across multiple sectors. The company demonstrated strong revenue growth from ₹19.8 Cr in FY18-19 to ₹155.3 Cr in FY22-23, with a 5-year CAGR of 65%, and a corresponding profit growth from ₹0.3 Cr to ₹4.1 Cr during the same period. Client Ask: The founding team of InSemi was seeking a complete strategic exit, looking to align with a buyer that could integrate their offerings into a broader digital or semiconductor platform. However, the company was not investment-ready at the time — with limited market visibility, inadequate financial presentation, and absence of a defined buyer positioning strategy.. Xpertiz Mandate: Xpertiz was engaged as the exclusive investment banker to advise InSemi on: Full-Scale M&A Advisory Strategic Valuation Buyer Identification & Outreach Due Diligence & Data Room Preparation Deal Structuring & Negotiation Support
Challenges Faced: InSemi lacked investor-facing documentation and market positioning. Financial statements required normalization and forecasting to be buyer-ready. Strategic buyers needed to be mapped and engaged based on long-term technology synergies. There was a risk of undervaluation due to lack of comparables and proper articulation of IP value.
vapour around me, and the meridian sun strikes the upper surface of the impenetrable foliage of my trees, and but a few stray gleams steal into the inner sanctuary, I throw myself down among the tall grass by the trickling stream; and, as I lie close to the earth, a thousand unknown plants are noticed by me: when I hear the buzz of the little world among the stalks, and grow familiar with the countless indescribable forms of the insects and flies, then I feel the presence of the Almighty, who formed us in his own image, and the breath of that universal love which bears and sustains us, as it floats around us in an eternity of blist.
Xpertiz Value Addition: Xpertiz played an instrumental role in transforming the deal thesis and transaction readiness: 1. Investment Readiness Rebuilt financial models and projections with defensible growth assumptions. Identified and highlighted core value drivers including client stickiness, IP depth, and design wins. Created a high-quality Information Memorandum, management presentation, and financial model for external investors. 2. Strategic Positioning Reframed InSemi as a platform-based semiconductor design services provider, not just a third-party design vendor. Highlighted how their engineering depth aligned with trends in IoT, EVs, data centers, and telecom semiconductors. 3. Buyer Outreach Conducted a targeted outreach campaign to Indian and global strategic players seeking to build or expand semiconductor capabilities. Identified key players like Infosys and other IT majors pursuing semiconductor verticals. 4. Competitive Bidding & Negotiation Created competitive tension with multiple term sheets to maximize valuation. Led the negotiation on valuation, deal terms, earn-outs, and IP rights, ensuring founders retained value. 5. Due Diligence & Closure Set up a virtual data room and managed end-to-end diligence – financial, legal, and technical. Acted as a bridge between buyer-side advisors and InSemi to ensure smooth deal execution. Deal Outcome: Acquirer: Infosys Deal Size: ₹230 Cr Deal Type: 100% Strategic Acquisition (Full Exit) Valuation: Above industry benchmarks for similar service-based semiconductor players Impact of Xpertiz: The success of this transaction was significantly enabled by Xpertiz’s: Deep sectoral knowledge in semiconductor and embedded systems, Comprehensive transaction execution from valuation to diligence and negotiation, and Strategic narrative building that elevated buyer interest and competition. This deal not only ensured an optimal exit for the founders but also helped Infosys strengthen its presence in the high-demand semiconductor design space.