Ineda Systems, a Hyderabad based firm has been quietly acquired by chipset making giant Intel Corporation. Though the financial details of this transaction have not been disclosed, it is being 100-odd engineers working with Ineda Systems who have skills in graphics will now be moved to Intel. Intel seemingly has been scouting for talent in this area of graphics and by securing the services of these skilled engineers in one shot, Intel would have felt investment it made is worth the dollars it would have parted with. Along with the staff located in the Telangana capital, Intel plans to buy out the building they are currently housed in, which is on lease.
A confirmation on this development has come from the Ineda side but the full details of the deal are not in public domain. Intel on the other hand has also issued a broad statement without going into the nitty-gritties. â€śIntel acquired engineering resources from Ineda Systems, a silicon and platform services provider based in Hyderabad. This transaction provides Intel with an experienced SOC (system on chip) team to help build a world-class discrete GPU businessâ€ť is what Intel has shared with Economic Times, which has reported the development.
Ineda Systems has been working on new generation technologies, autonomous driving, artificial intelligence and IoT. Having started in 2011, the company came up with a chip for wearables called Dhanush, in 2013-14. This turned the focus on the startup and it could receive investments to the extent of over $60 million and the investments came from the investment arms of Samsung and Qualcomm besides others.
Intel appears to be having ambitious plans for its facility in Hyderabad, where it hopes to ramp up the employee count to 5000 engineers. This is expected to be a technology centre of global scale and size.