It was an exceptional week for the Armenian tech ecosystem full of success story announcements.

Here is one of the biggest news in Armenian semiconductor design industry ⤵️

Microchip Technology Incorporated a leading provider of smart, connected and secure embedded control solutions is acquiring Instigate Semiconductor that was incubated by Instigate.

Instigate is a conglomerate of companies offering a wide range of software development services from mobile & web development, to design of complex engineering systems for industrial automation to embedded systems design.

Instigate Semiconductor, was incubated by Instigate 2 years ago with an aim to transfer the company to Microchip after setting up a company and building an operational R&D center in Armenia.

Congratulations to our friends from Instigate on this great achievement!

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The Prime Minister of Armenia Nikol Pashinyan received Bruce Weyer, the vice president of Microchip Technology Incorporated, Arman Poghosyan, the CEO of Instigate and Ani Safaryan, the VP of Engineering of Instigate Semiconductors

The prime minister welcomed cooperation between Microchip and Instigate.

Bruce Weyer announced that Microchip Technology is interested in implementing programs in the Armenian technology sector and contribute to the development of the technological ecosystem of Armenia.

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#instigate #instigatesemiconductor #michrochip #exit #successstory

Instigate announced that the company signed a contract with microelectronics manufacturer giant Microchip Technology Inc. to sell 100% of its subsidiary Instigate Semiconductor to Microchip.

This is a result of a long-term cooperation started 3 years ago aiming to build an FPGA company in Armenia that will later be sold to Microchip. The subsidiary company Instigate Semiconductor was created on August 3, 2020 having 8 employees. Within the last 3 years the company launched its R&D centers across Armenia, including Vanadzor, Gyumri and Ijevan growing its team size to 47 engineers.

Microchip is gearing up for further expansion and covering a broad range of areas, including Application Engineering, Customer Support, Embedded Systems Programming, IP Verification.

Microchip is a $45 billion capitalization company and a global leader of microelectronics manufacturing.

This is another tremendous achievement of Armenian EDA sector and a great success story of a startup launch and exit within 3 years.

We look forward to hearing next success stories coming from Instigate Group!

https://t.me/threenstartups

#instigate #instigatesemiconductor #michrochip #exit #successstory