Shirak Technologies

What Shirak Technologies does

Shirak Technologies (legal entity SHTE LLC) is a private Armenian engineering and consulting firm founded in 2001, headquartered in Yerevan with a secondary office in Gyumri. The company operates two business lines: (1) a High-Tech portfolio delivering ASIC and SOC design services on 65nm to 14nm process nodes with multi-million gate designs and GHz operating frequencies, plus embedded design, IoT design, big data analytics, and cognitive systems development; and (2) a Business Consulting portfolio built around its SAP Integration and Consulting Partner status, offering SAP ERP, SAP Business Objects, SAP Cloud Solutions, and SAP Enterprise Support, alongside managed IT infrastructure services, cloud and virtualization, networking, information security, and CMS and mobile development.

The firm's technology stack spans the full SOC development lifecycle from architectural specification through RTL to physical design, DFT, test pattern generation, wafer testing, and yield analysis, complemented by firmware development and IoT systems. Recurring revenue is generated via annual managed-services subscriptions with SLAs and "Solution as a Service" deployments, while project-based billing dominates ASIC engagements. Go-to-market is direct enterprise field sales, targeting midsize and large enterprises across five verticals — High-Tech and Engineering, Finance and Banking, Power and Resources, Consumer and Industrial Manufacturing, and Automotive and Transportation — with named customers including Coca Cola Hellenic, Central Bank of Armenia, Isolux Corsan, and Contour Global.

Headcount sits in the 11-50 band, and no public revenue, funding, or ownership disclosures exist. Strategic activity in 2026 includes the acquisition of Veero AI to expand AI capabilities, while the corporate website shows no recent product launches or pricing changes beyond the established service catalog. The company presents as a long-tenured, vertically diversified boutique with modest scale and limited external capital signals.

Name

Shirak Technologies

Legal name

SHTE LLC

Website

https://shte.am

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Shirak Technologies is an Armenian private engineering and consulting firm offering ASIC/SOC design (65nm to 14nm), embedded and IoT design, cognitive systems, and SAP consulting plus managed IT services to enterprise and midsize clients across five industry verticals.

Ownership category

akta.pro rank

Product category

Semiconductor Design Services

NAICS

Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Services-Computer Integrated Systems Design (7373), Services-Management Consulting Services (8742), Services-Computer Programming Services (7371)

akta.pro primary industry

Compute & Acceleration ICs (CPU/GPU/AI/FPGA/ASIC) (HDAHABAC)

akta.pro secondary industry

Core ERP Suites (Financials, Procurement, Projects) (HDAEAEAA)

Keywords

• ASIC design services
• SOC design services
• SAP consulting services
• Managed IT services
• Embedded design services

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Managed Services: Remotely managed IT infrastructure services delivered via VPN connections on annual subscription basis with SLA commitments for downtime constraints, reliability, and quick error recovery. Includes Solution as a Service deployment of custom systems for remote sensing with subscription-based dashboard access.
2. SAP Consulting Services: Implementation and support services for SAP ERP, Business Objects, Cloud Solutions, and Enterprise Support. Process improvement, technology innovation, and enablement of people for business transformation.
3. ASIC/SOC Design Services: End-to-end semiconductor design services from concept to production, including physical design, DFT, and manufacturing test support. Typically project-based engagements.
4. Cloud and Virtualization Services: Virtualization infrastructure deployment and maintenance, virtual server hosting, and colocation services with predictable monthly billing.
5. IoT Solutions: Internet of Things system solutions for data collection, logging, and processing. Can be delivered as dedicated service or Solution as a Service (SaaS).

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Shirak Technologies delivers ASIC and SOC design services from concept to production on advanced semiconductor process nodes (65nm to 14nm), alongside embedded design, IoT, big data analytics, and cognitive systems engineering. In parallel, the firm provides enterprise IT consulting including SAP ERP/Business Objects/Cloud/Enterprise Support, managed IT infrastructure, cloud and virtualization, networking, information security, and CMS/mobile development services to enterprise and midsize clients.

Product overview

Shirak Technologies is an ASIC design services and Business Consulting company founded in 2001, with its design center in Armenia. The company offers a dual portfolio: (1) High-Tech Solutions including SOC Design Services, Embedded Design Services, IOT Design Services, Big Data Analytics, and Cognitive Systems Development Services; and (2) Business Consulting Services including SAP Consulting (with SAP ERP Solutions, SAP Business Objects, SAP Cloud Solutions, and SAP Enterprise Support modules), Managed Services, Cloud and Virtualisation, Networking, Information Security, and CMS and Mobile Development. The company positions itself as helping clients jump to production from design/concept stages through to chip ramp-up.

Differentiator

Problem solved

Functional benefit

Products and services

• SOC Design Services End-to-end system-on-chip development from concept to production, covering system-level architecture, hardware logic development, RTL to physical design conversion, and system/software applications on 65nm to 14nm technology nodes with multi-million gate designs and GHz operating frequencies.
• Embedded Design Services
• IoT Design Services
• Big Data Analytics
• Cognitive Systems Development Services
• SAP Consulting Services
• SAP ERP Solutions
• SAP Business Objects
• SAP Cloud Solutions
• SAP Enterprise Support
• Managed Services
• Cloud and Virtualisation Services
• Networking Services
• Information Security Services
• CMS and Mobile Development Services

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature6 records

Partnerships

One partnership is on record.

• SAPcoreStrategic or Co-development PartnerShirak Technologies operates as an Integration and Consulting Partner providing SAP ERP Solutions, SAP Business Objects, SAP Cloud Solutions, and SAP Enterprise Support services. They implement and support SAP systems while focusing on process improvement, technology innovation, and people enablement.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Capgemini Engineering: Engineering services arm of Capgemini offering semiconductor, embedded systems, and digital transformation services — directly mirrors Shirak's dual-portfolio high-tech and IT consulting model at much larger scale.
• Wipro: Global IT services leader with a significant semiconductor engineering practice and SAP consulting capabilities — directly comparable dual portfolio to Shirak's combined offering.
• Synopsys: Leading EDA and semiconductor IP provider offering design services alongside tools — adjacent to Shirak in the ASIC design services value chain and a potential partner or competitor for high-complexity engagements.
• Infosys: Global IT services and consulting leader with a strong SAP practice and engineering services — comparable SAP consulting franchise to Shirak's, though at vastly greater scale.
• HCLTech: Global IT services firm with embedded systems, semiconductor, and SAP/cloud practices — closely comparable diversified services franchise at enterprise scale.
• Siemens EDA: Major EDA vendor with embedded and ASIC design capabilities — adjacent incumbent in the semiconductor design services ecosystem.
• LTIMindtree: Global IT services firm with SAP, digital transformation, and engineering capabilities — comparable diversified services portfolio at much larger scale.

Direct peers

• Tessolve: Semiconductor engineering services firm offering ASIC design, embedded systems, and test services — closely comparable business model and service breadth to Shirak's high-tech arm.
• Synapse Design: Pure-play ASIC and SoC design services firm offering RTL-to-GDSII services to global semiconductor customers — directly comparable high-tech services to Shirak's ASIC/SOC practice.
• Sondrel: ASIC design and supply services company providing full turnkey IC design from specification through production silicon — directly competitive with Shirak's SOC and embedded design offerings.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ShirakTechnologies
• LinkedInlinkedin.com/company/shirak-technologies

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shirak Technologies