BUSINESS

US firm buys out domestic tech startup

TAGS: Business

Patra-based startup Think Silicon has been bought out by Nasdaq-listed Applied Materials, in what is Greece’s biggest acquisition in the deep-tech sector. Sources say the price exceeds 20 million euros, pending the official statement.

Think Silicon specializes in the design and development of high-performance graphics processing units (GPUs) with very low energy consumption for portable device screens such as those of smartphones, smart glasses, domestic appliances etc.

The objective of the Greek company is to save energy and extend the battery life of screens supporting high-quality graphics, making appliances more user-friendly.

As its co-founder and chief executive officer Giorgos Sidiropoulos stated, the company’s swing in recent years toward wearable appliances came from a demand from a very large company: Think Silicon was asked whether it could extend the life span of the battery in one of the smart watches that was being promoted for the first time in the market then.

Now sources say that, through the buyout, the Greek company will be able to expand to more Greek cities and create more jobs in research and technology.

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