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Follow UsThe fact that the company’s Web site was still under
construction did not deter us from selecting it in our list of sizzlers this
year.
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Fact Sheet |
| Start-up Year: 1998 Founder and CEO: Subba Rao Pinamaneni Management: KY Mok, director, worldwide marketing; C Vivek, director, projects; S Reddy, VP, operations; K Balakrishnan, VP, manufacturing; Angshuman Chowdhury, CFO Funding: HBSC Private Equity (Asia) and HBSC Private Equity Management ($35 million) Products and Services: Discrete and analog semiconductors Address: 6-3-1090 B/3 3rd Floor, Mumawar Chambers Raj Bhavan Road Somajiguda Hyderabad 500 082 Tel: 6513691 Web site: www.teamasia.co.in Contact: Angshuman Chowdhury E-mail: achowdhury@teamasia.co.in |
According to the company, it had not given much thought to
the new economy’s parameters as it had concentrated on the manufacturing
operations. Started in 1984 as a semiconductor division of Greaves, it was sold
in 1997 to a new joint venture Teamasia Greaves Semiconductors as part of
Greaves’ restructuring plan. However, in 1998, Teamasia along with a few key
promoters bought Greaves’ 26% equity stake and renamed itself Teamasia
Semiconductors. In 2000 it became the first Indian company to buy a 62% stake in
a Nasdaq-listed chip maker, IMP Inc, in an all-cash $6-million deal–notable
feat for an unknown hardware company among giants like Infosys, Wipro and Satyam.
In terms of investments HSBC Private Equity has reportedly made its largest
investment in any Indian company, buying a 59% stake for $35 million.
Though the company made news in 2000, it will sizzle in 2001.
Not without reason. First, it’s the lowest-cost discrete semiconductor
manufacturer in the world and will enjoy this status after the acquisition of
IMP Inc. Part of its expansion strategy is using its low-cost Indian
manufacturing base. The company will relocate IMP’s 5-inch wafer fab to
Hyderabad and convert it into a 6-inch facility by mid-2001. With more
expansions and acquisitions, the company hopes to be among the world’s largest
and lowest-cost providers of wafer fabrication foundry services. In five years,
the company plans to garner $1 billion of a global market of discrete and analog
semiconductors estimated at $35 billion. With the IMP acquisition, the company
will shift its focus from Asia-Pacific to the global market–and for the first
time an Indian semiconductor company will compete in the global market.
Teamasia intends to raise about $60 million in 2001 to fund
more acquisitions and add new products to its current range. Raising funds
should not be a problem, with HBSC a major stake holder in the company. Also, if
needed, the company plans for a Nasdaq listing to meet its funding requirements.
Teamasia has brought India on the global semiconductor map in
2000 and will continue to take it forward in 2001. DQ