Cyient to acquire two firms: Report

13 Jan 2017

Cyient is reportedly all set to buy two firms with a size of $10-25 million each. The deal is likely to be sealed in Q1FY18. However, the company has not disclosed the area of expertise of the target companies.

On the consolidated basis, the company reported 13.80% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 94.16 crore for the quarter ended December 31, 2016 as compared to Rs 82.74 crore for the same quarter in the previous year.

Cyient, formerly Infotech Enterprises is a company focussed on engineering, networks and operations. The company features among the top 30 outsourcing companies in the world.

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