Tech giant Intel buys Hyderabad-based Ineda systems

US: based chip giant Intel Corporation, which has been shopping for new technologies and skilled talent, has quietly snapped up Hyderabad-based startup Ineda Systems, a low-key fabless semiconductor product company, for an undisclosed amount.

The all-cash deal sealed last week is more in the nature of an acquihire — a transaction in which a company is acquired mainly for the skill sets of its workforce rather than products or services. According to sources, Intel has acquired around 100 engineers of Ineda for their skills in graphics, an area where the US giant has chalked out ambitious plans. It is learnt that Intel will also be acquiring the leased Ineda Systems office in Kondapur, located near Google, which currently houses the engineering talent acquired.

Ineda shot to fame after its chips for wearables

Ineda Systems founder Dasaradha Gude confirmed the development, but refused to divulge any details. When TOI reached out to Intel, officials confirmed the deal but they too declined to disclose transaction details.