Vishay partners with Kaynes Technology for semiconductor joint venture in India
VSH•Vishay Intertechnology entered a binding term sheet with Kaynes Technology to establish a semiconductor manufacturing joint venture in India. Vishay would invest $56.4 million for a 49% stake, while Kaynes would retain 51%.
1. Proposed joint venture
Vishay Intertechnology entered a binding term sheet on November 12, 2026, with Kaynes Technology to establish a semiconductor manufacturing joint venture in India. Vishay would invest $56.4 million for a 49% stake in an existing Kaynes subsidiary, with Kaynes retaining 51%.
2. Manufacturing plans
The venture plans captive semiconductor back-end manufacturing for Vishay, potentially serving third-party customers. The partners plan to seek central and state government support under India Semiconductor Mission 2.0.
3. Conditions remain
The transaction is subject to definitive agreements, required approvals and customary closing conditions.
