Corporate Development     

Published: September 30, 2025
Updated: September 30, 2025

MIC Electronics Ltd.

MOU with Singapore firm to explore semiconductor partner from Taiwan

MIC Electronics Limited (BSE: 532850, NSE: MICEL), a global leader in the design, development, and manufacturing of LED video displays, has has entered into a MOU (Memorandum of Understanding) with Top2 PTE Limited, a Singapore based entity to explore, identify, and finalize a semiconductor partner from Taiwan.

The purpose of this MOU is to establish a framework under which “MIC “shall engage “Top2” to explore, identify, and finalize a semiconductor fabrication partner from Taiwan. The objective is to initiate semiconductor wafer production with a monthly target capacity of 25,000 to 30,000 wafers, subject to feasibility, negotiations, and regulatory compliance.

Earlier, the company’s board granted in principle approval to explore the acquisition of equity shares in Neo Semi SG Pte. Ltd. (NSPL), a high-growth, innovation-driven company based in Singapore. This strategic step marks the company’s entry into next-generation technologies and allied domains with strong growth trajectories.

NSPL has built a unique and future-ready ecosystem through a Memorandum of Understanding with a Silicon Valley USA-based semiconductor chip design and fabless company with advanced IP assets and is developing cutting-edge silicon solutions for high-performance computing, AI, and IoT applications, an energy management company offering integrated IoT-based solutions focused on climate resilience, energy efficiency, and smart grid modernization.

This proposed acquisition is aligned with MIC Electronics long-term strategy to diversify into high tech sectors and reinforce its presence in future-critical verticals like semiconductors, green energy, and digital service infrastructure. The synergies are expected to unlock significant value creation opportunities across both domestic and international markets.

The Memorandum of Understanding signed between MIC Electronics and NSPL is of a preliminary, non-binding nature. It does not confer any enforceable legal or financial obligations on either party. The acquisition will only proceed upon successful due diligence and mutually agreed commercial terms being documented in definitive agreements.

MIC Electronics Limited is a global leader in the design, development, and manufacturing of LED video displays, high-end electronic and telecommunication equipment, and the development of telecom software since 1988. An ISO 9001:2008 and ISO 14001:2004 certified company, it has established a strong presence in the dynamic fields of LED Video, Graphics, and Text Displays, LED Lighting Solutions, Embedded, System, and Telecom Software and Communication and Electronic Products.

MIC’s flagship products, LED video displays (indoor, outdoor, and mobile), have become integral to sports stadiums, transportation hubs, digital theatres, theme parks, advertisements, and public information displays.

Headquartered in Hyderabad, one of India’s fastest-growing IT cities, MIC has a nationwide presence through a vast network of marketing, sales, and service support centers in all major metropolitan areas of India. The company is also expanding its operations into international markets.

MIC has been a pioneer in developing and implementing a wide range of products and services in LED displays, telecom software, IT services, and communication and electronic products. Among its many achievements, MIC is notably the first company to receive TEC approval for its indigenous telecom equipment, the Digital Loop Carrier. Since venturing into the export market in 1994 and beginning onshore software development contracts in 2005, MIC’s accomplishments reflect its expertise, profound market knowledge, and commitment to innovation.