Image courtesy:FrontLinesMedia
On Thursday, April 28, Cyient Ltd announced the acquisition of Singapore based Grit Consulting for $37 million. Cyient plans to strengthen its consulting services & expand its reach.
The acquisition is expected to be completed by May 5. Grit Consulting has expertise in the metal mining & energy sector & with this acquisition, Cyient plans to expand its footprint in the mining industry.
“Grit is well established in the mining and energy space and will allow for the rapid expansion and deepening of Cyient’s footprint in these industries by leveraging customer, geographic, and talent synergies. To complement this, Cyient continues to invest in developing innovation hubs and CoEs to strengthen its digital transformation capabilities and provide innovative solutions to its customers,” Cyient said in a statement.
As per reports, the global consulting services market will grow beyond $1.2 trillion by 2025. Grit Consulting recorded annual revenue of $18.1 million in FY2022.
