Cyient Limited (“Cyient”) announced that it has signed a definitive agreement to acquire 100% ownership of Cyient Insights Private Limited (“Cyient Insights”). Cyient had secured 51% ownership of the company in 2014.The closing of the transaction is subject to regulatory approvals and customary closing conditions.
The complete integration of Cyient Insights creates a unique and comprehensive ecosystem of engineering services, IoT and analytics, which not only enables Cyient to meet global customer expectations, but also to achieve its strategic goal of providing complete systems and solutions to its clients across every industry it serves.
Cyient Insights has already gained significant traction with global clients in the industrial and aerospace industry and will continue to expand into other industries, such as medical and automotive, to enable actionable business insights, predictive action planning and digital transformations.
“Facilitating digitization is an important growth area for Cyient, and it is equally important to our clients. As the demand for digital services is increasing in all markets, our IoT and analytics solutions will play an important role in helping our clients realize enhanced operational efficiencies, deliver better customer value, and improve top and bottom line growth,” said Suman Narayan, Senior Vice President for Semiconductor, IoT, and Analytics at Cyient.
Cyient expects the transaction to be EPS neutral.