Cyient, an engineering and technology solutions company, announced that it has fully integrated the Finland based acquired entity, Citec, into Cyient, the company announced through an exchange filing.
As one of the final steps of the integration process, the Founder Chairman of Cyient, Dr. B.V.R Mohan Reddy visited the offices in Vaasa and Helsinki to commemorate this integration into Cyient.
While Cyient has completed 20 acquisitions over its 32-year history, Citec was the largest; in terms of revenue, valuation, number of people, and geographic locations. It was also it's first in the Nordics region and has provided expanded capabilities in sustainability services and plant engineering.
In every major geography Cyient operates in, it not only focuses on business but also in becoming an integral part of the local ecosystem, focusing on technology, innovation, education, and entrepreneurship (start-ups). The company has committed to do the same in Finland. The event held in Helsinki was attended by the Ambassador of India to Finland and Head of Business Finland for India, the Middle East and Africa.
“I am impressed by the available talent, the ease of doing business, and the robust start-up ecosystem,” said Dr. B.V.R. Mohan Reddy, Founder Chairman, Cyient.
Cyient has promised to build relationships with local innovation hubs, educational institutions, and the business community to promote the country.
"Both countries (Finland and India), enjoy a warm relationship. Finland can be a launching platform for Cyient to expand their presence in Europe" said Raveesh Kumar, Ambassador of India to Finland.
Cyient Ltd Shares
The shares of Cyient on Monday at 3:30pm IST were at Rs 1,459, down by 0.089 percent.