Technology options firm Cyient on Monday introduced to amass Finland-based Citec, a world plant and product engineering providers firm, for an undisclosed sum.
According to Cyient, that is the biggest outbound acquisition by an Indian engineering providers firm and its largest acquisition up to now.
The acquisition will strengthen its presence within the vitality trade with a deal with clear vitality and develop its European footprint within the Nordic nations of Finland, Norway and Sweden, together with Germany and France, the corporate stated in a press release.
“This acquisition will allow us to take our combined plant engineering and digital solutions portfolio to a new set of customers who have extensive manufacturing facilities globally,” stated Krishna Bodanapu, Managing Director and CEO, Cyient.
Founded in 1984, Citec is presently serving prospects throughout the vitality, course of, oil and gasoline, and manufacturing industries.
“The large international organisation of Cyient, with more than 14,000 experts, enables new offerings to our customers, as well as new opportunities for our employees,” stated Johan Westermarck, CEO, Citec.
Citec presently employs greater than 1,200 individuals worldwide.
“Through Cyient, we can provide customers a much more comprehensive set of services and solutions, such as the utilisation of Cyient’s strong digital offering,” Westermarck added.