Cyient to acquire a plant and product engineering services company - Citec

28 Apr 2022 , 01:33 AM

Cyient today announced that it has signed definitive agreements to acquire Citec an international Plant and Product engineering services company serving customers across the energy process oil and gas and manufacturing industries This will be the largest outbound acquisition by an Indian engineering services company and Cyients largest acquisition to date The acquisition transactions will be completed during the quarter This acquisition will enhance Cyients position as a leader in the Plant and Product Engineering sector strengthen its presence in the energy industry with a focus on clean energy and expand its European footprint in the Nordic countries of Finland Norway and Sweden and in Germany and France The combined portfolios of Cyient and Citec will be one of the largest independent plant engineering capabilities globally This will enable customers to leverage a comprehensive set of services and offerings such as Plant Engineering Digital Solutions Product Engineering Consulting and Technical Documentation And the synergies from these combined portfolios will provide the scale expertise resources and access to new capabilities that can be offered to customers