India, June 10 -- Kaynes Semicon and L&T Semiconductor Technologies (LTSTC) are set to acquire the power modules business of Japan's Fujitsu General Electronics for INR 118.32 Cr (around $13.8 Mn).

As part of the deal, Fujitsu will transfer its power modules business to LTSTC, the fabless chip company of Larsen & Toubro, and transfer the related production facilities to Kaynes Semicion, a subsidiary of electronics manufacturing company Kaynes Technologies, which is setting up INR 3,300 Cr semiconductor manufacturing unit in Gujarat's Sanand.

Fujitsu is involved in developing, manufacturing, and selling electronic devices and manufacturing equipment for information and communications in the tech solution business.

In India, the Japanese...