KARACHI: The Jaffer Business Systems (JBS) has acquired majority stakes in Silicon Valley-based start-up, “Impare”, specializing in chip verification.
This acquisition is the first time JBS has made a start-up investment outside of Pakistan, right in the tech hub of the world that is Silicon Valley putting them at the forefront of the chip verification industry in the country.
The chip verification market is expected to grow up to $ 16 billion in the next five years, making it a highly in-demand and short-skilled industry worldwide. Imparé was founded with the goal of creating a verification centre of excellence in Pakistan and training local students to work with top US companies to meet the growing demand for verification engineers.
The acquisition of Impare marks a new era for JBS and is a testament to its purpose of continuing to improve lives. Impare, with its specialized chip design verification services, will now be able to provide its expertise to customers in the US, further expanding its reach and impact.
JBS CEO, Veqar Ul Islam is delighted with the acquisition of Impare and said that this is strategy of start-up acquisition resonates around “Purpose” to facilitate a broader, stronger, entrepreneurial network in the country, which is futuristic, innovative, and blends well with new ways of driving our economy.
Impare Founder, Faisal Haque said that the silicon market is set to double in the next eight years and the demand for verification engineers is high. “Our goal is to provide a centre of excellence in chip verification and train the next generation of engineers to meet this demand,” he added.
Copyright Business Recorder, 2023
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