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Cyient Ltd, an engineering and geospatial services firm, has signed an agreement to acquire 100 per cent ownership of Cyient Insights Private Ltd, a data science company formerly known as Invati Insights.
The firm, which bought a majority stake of 51 per cent in 2014, has decided to acquire the remaining stake in the firm. “The closing of the transaction is subject to regulatory approvals and customary closing conditions,” a company statement said on Tuesday.
“The integration of Cyient Insights will create a unique and comprehensive ecosystem of engineering services, Internet of Things and analytics,” it said.
“As the demand for digital services is increasing in all markets, our IoT and analytics solutions will play an important role in helping our clients realise enhanced operational efficiencies,” Suman Narayan, Senior Vice-President for Semiconductor, IoT, and Analytics at Cyient, said.
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