Cyient, a technology solutions company, has signed a definitive agreement to acquire Celfinet, a Portuguese wireless engineering services company for about €41 million. Celfinet provides end-to-end network planning and performance optimisation services.
With this acquisition, Cyient strengthens its wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their pervasive connectivity networks at scale.
“This will also enable Enterprises to build networks to harness the power of 5G and drive their own digital transformation journey,” Krishna Bodanapu, Managing Director and Chief Executive Officer of Cyient, said.
Scaling business
“The acquisition will strengthen Cyient’s presence in Europe, where Celfinet has a strong footprint, and help scale Cyient’s business across North America and Australia. Celfinet’s deep expertise and long-standing customer relationships will further add to our capabilities as we strengthen our technology play in wireless networks for 5G rollouts,” he said.
In addition, Portugal has a highly skilled engineering workforce, making it a strategic innovation hub for expanding our global delivery footprint, he said in a statement on Monday.