Cyient to acquire Citec for expanding footprint in Nordic countries

Cyient, a leading global Technology Solutions company, on Monday announced that it has signed definitive agreements to acquire Finland-based Citec, an International company.

Hyderabad, April 25: Cyient, a leading global Technology Solutions company, on Monday announced. That it has signed definitive agreements to acquire Finland-based Citec. An International Plant and Product engineering, Technical documentation and digital solutions company. This will be the largest outbound acquisition by an Indian Engineering Services Company. The acquisition transactions will be completed during the current quarter, Hyderabad-Cyient said in a release here. This acquisition will enhance Cyient’s position as a leader. In the Plant and Product Engineering sector, strengthen its presence in the energy industry with a focus on clean energy. And expand its European footprint in the Nordic countries of Finland, Norway, and Sweden, and in Germany and France.

Commenting on the proposed acquisition, Krishna Bodanapu, Managing Director and CEO, Cyient, said, . 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. Citec’s strong brand value and talent pool, especially in the Nordic region, will be integral to Cyient gaining a strong foothold in the region and accelerating our future growth. Citec CEO Johan Westermarck, said the large international organization of Cyient, with more than 14,000+ experts, enables new offerings to our customers, as well as new opportunities for our employees. Through Cyient, we can provide customers a much more comprehensive set of services and solutions, such as the utilization of Cyient’s strong digital offering.

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