KARACHI: Jaffer Business Systems (JBS) —one of the most reputable IT companies in Pakistan — has announced acquisition of a Silicon Valley-based startup, Imparé, specialising in chip verification, The News reported Wednesday.
It should be noted that the acquisition makes JBS's first investment in a startup outside of Pakistan and positions it at the forefront of the chip verification industry.
According to details, Imparé was founded to establish a verification centre of excellence in Pakistan and training local students to meet the increasing demand for verification engineers in the growing silicon market.
The acquisition of Imparé expands JBS's reach and impact, allowing the company to provide specialised chip design verification services to customers in the United States.
The move aligns with JBS's purpose of fostering innovation, entrepreneurship, and driving economic growth in the country.
Speaking on the occasion, JBS CEO Veqar Ul Islam highlighted the company's approach to startup investments and its commitment to building a stronger entrepreneurial network.
Semiconductors, or chips, are inside everything from phones to cars. And 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.