InvestorQ : Can you tell me about the idea of Cyient acquiring IG Partners of Australia?
Dia Deshpande made post

Can you tell me about the idea of Cyient acquiring IG Partners of Australia?

Answer
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swati Bakhda answered.
4 weeks ago


Cyient Technologies, a company focused on engineering solutions, announced plans to acquire Australian consulting firm, IG Partners. The idea is to extend its offerings for the local and regional resources sector, including GIS and mapping services.

It is a small deal and Cyient will make an upfront payment of A$11.6 million towards the deal. The entire acquisition deal is expected to be completed in a period of six months. The deal will be subject to the approval of the Foreign Investment Review Board.

Hyderabad-based Cyient, formerly Infotech Enterprises, is a key player in the mining technologies area. Cyient has a strong presence in Australia and provides solutions to mining, oil and gas, rail, telecom and utilities. It is also working on 5G rollouts.

Cyient has acknowledged that mining was an important focus industry and Australia a strategic market for Cyient.