French chipmaker Altis has received around 50 million euros ($65.70 million) in investment from French and Qatari sovereign funds, according to newspaper reports.

Altis - formerly owned by IBM and Infineon - was bought in August by French government official Yazid Sabeg, who also owns a small-cap IT consultancy called CS Communication.

According to La Tribune, the FSI has invested 20 million euros while the Qatari Diar sovereign real estate fund has invested around 30 million.

A spokesman for the FSI was unavailable for comment. The fund was designed to support small companies deemed strategically important to France.-Reuters