Tessolve, a company specializing in semiconductor engineering services and a project of Hero Electronix, is actively negotiating the purchase of two more enterprises. These companies are based in the USA and India. The goal of these acquisitions is to achieve annual revenue exceeding 500 million dollars (equivalent to approximately 4,700 crore rupees) within the next three to four years, according to Co-founder and CEO Srini Chinamilli.
In an interview with PTI, Chinamilli stated that they are in discussions with several companies that have not yet been publicly announced. He specified that discussions are underway with one company in the USA and one local (Indian) company, but he did not disclose their names. One of the deals is expected to close in the next couple of months, while the second is likely to be finalized by the end of the current fiscal year.
According to Chinamilli, most of Tessolve's acquisitions are aimed not so much at directly increasing income, but at expanding competencies or geographical presence that the company currently lacks. The recent takeover of the German chip design firm Dream Chip Technologies allowed the company's revenue to more than double since its purchase in 2024.
Previously, Tessolve acquired a 100% stake in Dream Chip in November 2024 for 400 crore rupees. Chinamilli mentioned the company's ambition to cross the half-billion revenue mark within three to four years, as well as the goal of becoming 'a world leader in semiconductor engineering solutions.' The company's revenue grew to 1,526 crore rupees in the fiscal year ending March 2026 (FY26), compared to 1,157 crore rupees in FY25.
Furthermore, Tessolve had previously set a target of achieving 2,000 crore rupees in revenue in the current fiscal year (FY27) and reported that it remains on track to exceed this figure. Chinamilli emphasized that organic growth is over 20 percent and expects the total growth this year to be even higher.
Work related to data centers and artificial intelligence (AI) chips now accounts for at least 25 percent of Tessolve's revenue, and this share has been steadily growing over the past two years. In September 2025, Tessolve attracted $150 million from the American private investment firm TPG, which was the largest funding round to date. The capital raised is planned to be used to strengthen global service centers, expand advanced testing laboratories, and accelerate strategic acquisitions.
The company currently employs over 4,000 people in 12 countries, with about 85 percent of the staff working in India, distributed across nine cities. Besides India, Tessolve has expanded its presence in the USA, Germany, the Netherlands, Taiwan, and is growing in Malaysia. When asked about preparations for an IPO, Chinamilli replied that it was 'too early to comment,' but described the initial public offering as a 'definite opportunity' that they are considering, although formal preparations have not yet begun.