Cyient has signed a definitive agreement to divest its 49% equity ownership in Infotech Aerospace Services, Inc (IASI) to Pratt & Whitney, a division of United Technologies Corporation. The transaction would be EPS neutral. The closing of the transaction is subject to regulatory approvals and customary closing conditions.
Established in 2003, Isabela, Puerto Rico, IASI is a 51:49 Joint Venture between Pratt & Whitney and Cyient. IASI provides aerospace defence design, development & related services, primarily to United Technologies and its business units.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems.