ASM Technologies signs MoU with Karnataka government; to invest ₹510 crore in ESDM expansion

Bengaluru-based ASM Technologies Limited, a Design-Led Manufacturing company in the semiconductor and automotive industries, has signed a Memorandum of Understanding (MoU) with the Government of Karnataka to invest ₹510 crore in expanding its Electronics System Design and Manufacturing (ESDM) and precision engineering capabilities.

Under the agreement, ASM Technologies will acquire 10 acres of land from the Karnataka Industrial Areas Development Board (KIADB) to establish a new design facility.

“This MoU reaffirms ASM Technologies' commitment to Karnataka’s industrial growth and self-reliance. The expansion will strengthen our precision engineering capabilities in electronics, semiconductors, and solar industries while generating employment opportunities and fostering technological advancements,” said Rabindra Srikantan, Managing Director, ASM Technologies.

The company has also recently commenced operations at two new manufacturing facilities in Dabaspet, Karnataka, and Sriperumbudur, Tamil Nadu, spanning over 55,000 sq. ft. These facilities are expected to boost its design-led manufacturing operations and serve as centres of excellence for key industry verticals.

ASM Technologies operates multiple delivery centres in India and has a global presence across the US, Singapore, UK, Canada, Japan, Thailand, and Mexico.

HBL