Cyient, a Hyderabad-based engineering and technology solutions company, has said it has fully integrated the Finland-based entity Citec into it.
Cyient’s Founder-Chairman B V R Mohan Reddy visited the offices in Vaasa and Helsinki to mark the integration of Citech. The Citec acquisition was the largest for Cyient in terms of revenue, valuation, number of people, and geographic locations. The company acquired 20 firms so far.
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“It was also Cyient’s first in the Nordics region and has provided expanded capabilities in sustainability services and plant engineering,” Cyient informed the Bombay Stock Exchange on Monday.
Meanwhile, Cyient signed a Memorandum of Understanding (MoU) with Vaasa-based Novia University of Applied Sciences. The two parties will collaborate in research, innovation, education and skill development.
Cyient’s scrip, which opened at ₹1,458.90, closed at ₹1,459.80 on Monday.