Cyient has signed a definitive agreement to acquire 100% stake in specialist Australian consulting firm, IG Partners, to expand its end-to-end offerings for the local and regional resources sector. The acquisition will enable customers to take advantage of the growing convergence of operational and information technologies by leveraging the synergies between Cyient’s proven ability in operational efficiency, asset optimization, and digital transformation, and IG Partners’ value creation and transformation in asset and capital-intensive industries.
Cyient has a growing presence in Australia, providing solutions to the mining, oil and gas, rail, telecom, and utility industries. With rapid sectoral growth in the region, the company continues to invest in expanding its footprint and creating sustainable value for all stakeholders. The IG Partners transaction, the terms of which are confidential and remains conditional on regulatory approvals, will result in Cyient taking full ownership of the global partnership.
The partnership will enable the development of a unique customer proposition that allows IG Partners’ customers to take full advantage of the growing convergence between operational and information technologies.
Cyient’s MD and CEO, Krishna Bodanapu, said that mining is an important focus industry and Australia a strategic region for Cyient’s growth. Mining industry is getting transformed with convergence of digital technologies. With this investment, the powerful synergy of Cyient’s digital execution capabilities and IGP’s advisory expertise creates a unique value proposition for the industry. This acquisition also adds to their footprint in Australia, which is an important region for their future growth.
Herman Kleynhans, Founder and Managing Partner, IG Partners said that their team welcomes the firm’s proposed acquisition by Cyient as a transformative moment for both businesses. In joining Cyient, they see tremendous synergies in supporting their customers’ benefit from Industry 4.0. The combination of Cyient’s leading engineering and technology solutions and IG Partners mining and utilities expertise uniquely positions them to support value and productivity breakthroughs leveraging digital technologies.