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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Cyient Limited    532175   INE136B01020


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Cyient : to Acquire IG Partners, a Specialist Australian Consulting Firm to Strengthen its Digital Capabilities in the Energy and Mining Industry

08/31/2020 | 12:46am EST

- Enterprise Asset Management Solution including predictive maintenance and warranty management 

- Mining 4.0 - IT/OT convergence, exploration data compilation, minerals exploration data management

- Operational Efficiency - Digitally enabled workforce, advanced analytics and machine learning, supply chain, and automated planning

HYDERABAD, India, Aug. 31, 2020 /CNW/ -- Cyient, a global engineering and digital technology solutions company, today announced that it has agreed to acquire specialist Australian consulting firm, IG Partners, to expand its end-to-end offerings for the local and regional resources sector. The acquisition will enable customers to take advantage of the growing convergence of operational and information technologies by leveraging the synergies between Cyient's proven ability in operational efficiency, asset optimization, and digital transformation, and IG Partners' value creation and transformation in asset and capital-intensive industries.

Cyient has a growing presence in Australia, providing solutions to the mining, oil and gas, rail, telecom, and utility industries. With rapid sectoral growth in the region, the company continues to invest in expanding its footprint and creating sustainable value for all stakeholders. The IG Partners transaction, the terms of which are confidential and remains conditional on regulatory approvals, will result in Cyient taking full ownership of the global partnership.

IG Partners was formed in 2012 and has a team consisting of partners, practice leads, consultants, project managers, and analysts. The partnership will enable the development of a unique customer proposition that allows its customers to take full advantage of the growing convergence between operational and information technologies.

Commenting on the proposed acquisition, Cyient's MD and CEO, Krishna Bodanapu, said, "Mining is an important focus industry and Australia a strategic region for Cyient's growth. Mining industry is getting transformed with convergence of digital technologies. With this investment, the powerful synergy of Cyient's digital execution capabilities and IGP's advisory expertise creates a unique value proposition for the industry. This acquisition also adds to our footprint in Australia, which is an important region for our future growth."

"Our team welcomes the firm's proposed acquisition by Cyient as a transformative moment for both businesses," said Herman Kleynhans, Founder and Managing Partner, IG Partners. "In joining Cyient, we see tremendous synergies in supporting our customers' benefit from Industry 4.0. The combination of Cyient's leading engineering and technology solutions and IG Partner's mining and utilities expertise uniquely positions us to support value and productivity breakthroughs leveraging digital technologies."

IG Partners' customers include large mining players comprising multiple Fortune 500 companies. The company has well-established methodologies and a proven track record in transformation within asset and capital-intensive industries. It is intended that all its key management personnel will stay with the business under Cyient ownership.

About Cyient:

Cyient (Estd: 1991, NSE: CYIENT) is a global engineering and digital technology solutions company. As a Design, Build, and Maintain partner for leading organizations worldwide, Cyient takes solution ownership across the value chain to help customers focus on their core, innovate, and stay ahead of the curve. The company leverages digital technologies, advanced analytics capabilities, domain knowledge, and technical expertise to solve complex business problems.

Cyient partners with customers 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, healthcare, telecommunications, rail transportation, semiconductor, geospatial, industrial, and energy.

For more information, please visit www.cyient.com
Follow news about the company at @Cyient

About IG Partners:

Founded in 2012, IG Partners primarily services large asset and capital-intensive companies within the resources and energy, government, and manufacturing sectors (B2B). With a team of more than 70 partners, practice leads, consultants, project managers, analysts and specialized contractors, IG Partners has developed a substantial amount of scalable IP and methodology that allows it to offer end-to-end services across the entire business value chain.

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Vishal Thapa
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Email: vthapa@perfectrelations.com


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