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30 May 2023

Unicorn buys stake in US firm

By Staff Writer


Unicorn Investment Bank has acquired a 75 per cent equity stake in Open-Silicon, a market leader in chip design and outsourced manufacturing services based in California for $190 million (Dh697m).

The bank is partnering with Open-Silicon to fulfil the firm’s next phase of growth, which includes global expansion, said a statement.

Established in 2003 by the founders of Intel Microelectronics, a subsidiary of Intel, Open-Silicon designs and manufactures Application Specific Integrated Chips for a broad group of clients in the consumer electronics and telecom sectors. The company’s turnkey semi-conductor service offerings allow clients to outsource all services required to deliver high quality semi-conductor solutions that they would otherwise need to develop internally at a very high cost.

“Unicorn has been following developments at Open-Silicon for several years. The company has managed to build a differentiated and successful business model and is a clear market leader in the fabless space,” managing director of Global Private Equity at Unicorn Aamir Khan said.