Indian tech company Cyient acquires Finland-based international plant Citec, targets to extend its Ecu footprint

Era answers corporate Cyient on Monday introduced to procure Finland-based Citec, an international plant and product engineering products and services corporate, for an undisclosed sum.



Consistent with Cyient, that is the most important outbound acquisition by means of an Indian engineering products and services corporate and its greatest acquisition up to now.

The purchase will beef up its presence within the power trade with a focal point on blank power and extend its Ecu footprint within the Nordic international locations of Finland, Norway and Sweden, at the side of Germany and France, the corporate stated in a commentary.

“This acquisition will let us take our blended plant engineering and virtual answers portfolio to a brand new set of shoppers who’ve in depth production amenities globally,” stated Krishna Bodanapu, Managing Director and CEO, Cyient.

Based in 1984, Citec is recently serving shoppers around the power, procedure, oil and gasoline, and production industries.

“The massive global organisation of Cyient, with greater than 14,000 professionals, permits new choices to our shoppers, in addition to new alternatives for our workers,” stated Johan Westermarck, CEO, Citec.

Citec recently employs greater than 1,200 individuals international.

“Via Cyient, we will be able to supply shoppers a a lot more complete set of products and services and answers, such because the utilisation of Cyient’s sturdy virtual providing,” Westermarck added.

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