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