May 15, 2018 5:20:50 PM
Cyient reinforces its commitment to data analytics and digitization by increasing its stake from 51% to 100% in Cyient Insights
Hyderabad, India, May 15, 2018: Cyient Limited (“Cyient”), a global provider of engineering, manufacturing, geospatial, network, and operations management services, announced that it has signed a definitive agreement to acquire 100% ownership of Cyient Insights Private Limited (“Cyient Insights”), a data science company (formerly named Invati 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.
Cyient (Estd: 1991, NSE: CYIENT) provides engineering, manufacturing, geospatial, networks, and operations management services to global industry leaders. Cyient leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems. As a Design, Build, and Maintain partner, Cyient takes solution ownership across the value chain to help clients focus on their core, innovate, and stay ahead of the curve.
Relationships form the core of how Cyient works. With over 15,000 employees in 21 countries, Cyient partners with clients to operate as part of their extended team, in ways that best suit their organization’s culture and requirements. Cyient’s industry focus includes aerospace and defense, medical, telecommunications, rail transportation, semiconductor, utilities, industrial, energy and natural resources.
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Cyient (Estd: 1991, NSE: CYIENT) is a global engineering and technology solutions company.