Cyient to acquire IG Partners to expand digital capabilities in mining
Category: #business  By Pranali Mehta  Date: 2020-08-31
  • share
  • Twitter
  • Facebook
  • LinkedIn
Cyient to acquire IG Partners to expand digital capabilities in mining

Hyderabad-based engineering and digital solutions provider, Cyient Ltd., is reportedly planning on acquiring IG Partners, an Australian consulting firm. Sources with relevant information stated that the buy-out will allow Cyient to expand its digital portfolio in mining and energy sectors.

Cyient has a growing presence in Australia and focuses on offering its digital and engineering-based solutions to utility, telecom, rail, oil & gas, and mining industries in the country, sources claimed.

Krishna Bodanapu, Cyient’s Managing Director and CEO reportedly stated that the company is focusing on expanding its presence in Australia and develop a sustainable solution for its stakeholders. He added that the takeover would help Cyient to build and deliver a new service that will allow consumers to take full advantage of the rising integration of operational processes with IT solutions.

Founder and MD at IG Partners, Herman Kleynhans, was reported saying that the acquisition is a transformative movement for the two companies. He further claimed that by joining hands with Cyient, IGP’s customers can benefit from Industry 4.0 technology.

Kleynhans also stated that the combination of IGP’s mining and utilities expertise and Cyient’s leading technology solutions can offer productive and innovative solutions to clients.

For those uninitiated, IG Partners, which was established in 2012, has a team that comprises of analysts, project managers, consultants, practice leads and partners. Currently, the company caters to various large mining players including Fortune 500 companies.

Although the financial terms of the acquisition were not disclosed, sources claimed that all key management personnel of IG Partners will stay within the firm under the Cyient’s banner.

 

Source Credits –

https://economictimes.indiatimes.com/tech/software/cyient-to-acquire-australian-consulting-firm-ig-partners/articleshow/77843875.cms

https://www.thehindubusinessline.com/info-tech/cyient-to-acquire-australian-consulting-firm-ig-partners-to-strengthen-business-in-energy-and-mining-sectors/article32484172.ece

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

Mytheresa goes public in United States, becomes USD 2.2 billion company
Mytheresa goes public in United States, becomes USD 2.2 billion company
By Pranali Mehta

German online luxury retailer Mytheresa has reportedly secured USD 406.8 million during its initial public offering (IPO) in the United States. The company has now reached a valuation of USD 2.2 billion following the successful IPO. Sources confirme...

EBRD grants €26Mn loan to construct two wind farms in Poland
EBRD grants €26Mn loan to construct two wind farms in Poland
By Pranali Mehta

In a bid to accelerate Poland’s efforts to move to green energy, the European Bank for Reconstruction and Development (EBRD) has reportedly initiated the construction of two new wind farms across the region. In a statement by the bank, the EBR...

Turkey to impose advertisement ban on Twitter, Periscope and Pinterest
Turkey to impose advertisement ban on Twitter, Periscope and Pinterest
By Pranali Mehta

Reportedly, Turkey’s cosmopolitan capital Ankara has enforced a ban on advertisements on social media platforms such as Twitter, Periscope, and Pinterest after failing to appoint a local representative as per the country’s new social medi...