Citec, an international plant and product engineering, technical documentation, and digital solutions firm located in Finland, has signed formal arrangements to be acquired by Cyient, a prominent global Technology Solutions company. This will be an Indian Engineering Services Company’s largest outbound purchase. Hyderabad-Cyient stated in a statement that the acquisition transactions will be completed this quarter. This acquisition will strengthen Cyient’s position as a leader in the Plant and Product Engineering sector, expand its European footprint in the Nordic countries of Finland, Norway, and Sweden, as well as Germany and France, and strengthen its presence in the energy industry with a focus on clean energy.
Krishna Bodanapu, the Managing Director and CEO of Cyient, stated of the planned purchase, “This acquisition will allow us to expand our combined Plant Engineering and Digital Solutions offering to a new group of customers that have significant manufacturing facilities throughout the world.” Citec’s strong brand value and talent pool will be critical to Cyient obtaining a firm footing in the area and boosting our future expansion, particularly in the Nordic region. Citec CEO Johan Westermarck stated that Cyient’s big multinational organisation, which includes over 14,000+ professionals, allows for fresh products to clients as well as new chances for staff. We can offer clients a considerably broader range of services and solutions through Cyient, including the use of Cyient’s strong digital offering.
