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.
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