Cyient in its official statement asserted to have inked a definitive agreement to acquire 49 percent stake in one of its subsidiaries, Cyient Insights Private Limited, (formerly Invati Insights) for $515,777 (Rs 3.5 crore) in cash.
On the heels, a company press release said Cyient secured 51 percent ownership of the company in 2014.
Cyient Insights leverages business insights, predictive action planning and digital transformation services for industrial and aerospace industries. According to latest filing, the company is also expanding into other industries such as medical and automotive.
The expanded ecosystem is known to foster and expand Cyient’s capabilities in engineering services, IoT and analytics. Cyient is a mid-tier IT services company specialising in enterprise research and development and geospatial information systems.
Cyient is sought to log a consolidated net profit of Rs 403.1 crore on net sales of Rs 3,917.5 crore for 2017-18.
The company has struck several merger and acquisition deals in recent years to expand its business.