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by IANS | Mon, Aug 31, 2020, 12:17 PM
Hyderabad, Aug 31 (IANS) Global engineering and technology solutions provider Cyient on Monday announced the acquisition of Australian consulting firm IG Partners for an undisclosed sum.
The acquisition will enable the Hyderabad-based firm to strengthen its digital capabilities in the energy and mining industry.
Cyient has a growing presence in Australia, providing solutions to the mining, oil and gas, rail, telecom and utility industries.
Founded in 2012, IG Partners primarily services large asset and capital-intensive companies within the resources and energy, government, and manufacturing sectors (B2B).
"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," said Krishna Bodanapu, MD and CEO, Cyient.
With rapid sectoral growth in the region, Cyient 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.
"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," he added.
IG Partners' customers include large mining players comprising multiple Fortune 500 companies.
