UST and Kaynes Semicon to Set Up OSAT Semiconductor Facility
California-based tech company UST announced a partnership with Indian semiconductor producer Kaynes Semicon to establish a Rs 3,330 crore OSAT (Outsourced Semiconductor Assembly and Test) facility in Sanand, Gujarat.
The funding enables enhanced partnership between UST and Kaynes Semicon to promote innovation in electronics, electric vehicles, renewables, and consumer technology, and aids India's efforts to emerge as a global semiconductor center, according to reports.
"UST's global reach and established semiconductor clientele position it as a significant ally for Kaynes Semicon, enabling new customers to capitalize on the advantages of Indian assembly and testing."
The collaboration will leverage UST's digital engineering, AI-based process enhancements, and real-time data analysis, all of which are crucial for scalability, dependability, and preventing hidden expenses," it noted.
Also Read: SCO Summit 2025: Outcomes of Modi-Xi Meeting
Kaynes Semicon, established in 2008, functions as a fully owned semiconductor subsidiary of Kaynes Technology India Ltd.
Also Read: A Brief History of India's Transformation Under PM Narendra Modi
According to an exchange filing earlier this month, Kaynes Semicon will issue 27,778 compulsorily convertible preference shares to US Technology International (UST), providing up to 10 percent of share capital upon conversion for a partnership in the semiconductor packaging sector.
Also Read: 5 Latest CHRO Appointments in Global Corporations
Five percent of the Share Capital will be converted on a fully diluted basis on the closing date of the Securities Subscription and Shareholders' Agreement (SSSA), while the conversion of the remaining five percent depends on meeting revenue-linked milestones as defined and agreed upon by the parties.