Kaynes Technology Acquires Fujitsu General’s Power Module Assets in $15 M Deal

Kaynes Technology India Ltd, through its subsidiary Kaynes Semicon Private Limited, has signed an agreement with Fujitsu General Electronics Ltd (FGEL) to acquire power-module manufacturing assets worth approximately ₹85 crore ($1.5M).  

Under the agreement, Kaynes Semicon will take over advanced, high-reliability production lines from Fujitsu’s facility in Japan, used to manufacture power modules for automotive, consumer electronics, and industrial use. The acquisition includes the equipment and associated assets necessary for manufacturing up to 0.6 million power modules per month. 

The deal is expected to close by late June, pending regulatory approvals, including authorization from Japan’s Ministry of Economy, Trade and Industry under the Foreign Exchange and Foreign Trade Act. 

This move is in line with Kaynes’ long-term strategy to establish itself as a major player in India’s growing semiconductor manufacturing ecosystem. By acquiring mature and proven production lines from Fujitsu General, Kaynes aims to accelerate the ramp-up of its planned operations in Sanand, Gujarat, where a new state-of-the-art semiconductor assembly and testing facility is being built. 

The Sanand facility, developed under the India Semiconductor Mission, is being built in collaboration with L&T Semiconductor Technologies Ltd, and the new power-module capacity will be integrated into L&T’s OSAT (Outsourced Semiconductor Assembly and Test) supply chain. 

Power modules are essential components in electric vehicles, renewable energy systems, consumer electronics, and industrial automation. Global demand for these components continues to surge, driven by electrification trends and digital infrastructure upgrades. 

India has been aggressively pursuing domestic semiconductor production through government-backed initiatives, such as the PLI (Production-Linked Incentive) scheme and the India Semiconductor Mission. The Kaynes-Fujitsu deal is a direct reflection of these policy-driven ambitions coming to life. 

With the support of L&T and alignment with national semiconductor goals, the company is set to play a pivotal role in the country’s electronics supply chain transformation. The successful integration of Fujitsu’s technology into Kaynes’ Indian operations could be a blueprint for similar strategic moves by other domestic players in the future.