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BENGALURU: Cyient Ltd. stated on Thursday it’s set to amass Singapore-based Grit Consulting for a complete consideration of $37 million, to strengthen its expertise consulting apply and acquire entry to new buyer portfolios.
The acquisition is predicted to be accomplished on or earlier than 5 Might 2022, the Hyderabad-based IT companies agency stated.
Grit Consulting has experience in consulting for asset-intensive industries like metallic mining and vitality and thru this acquisition, Cyient will leverage buyer, geographic, and expertise synergies to allow growth and deepen its mining business footprint.
The worldwide consulting companies market is predicted to surpass $1.2 trillion by 2025, and the acquisition of Grit Consulting will assist Cyient speed up its consulting capabilities and ship progressive expertise options to its prospects.
“Grit is properly established within the mining and vitality area and can permit for the speedy growth and deepening of Cyient’s footprint in these industries by leveraging buyer, geographic, and expertise synergies. To enrich this, Cyient continues to spend money on creating innovation hubs and CoEs to strengthen its digital transformation capabilities and supply progressive options to its prospects,” Cyient stated in an announcement.
“We’re increasing our Cyient Consulting apply with this funding. It aligns with our consulting-led development technique, and we see nice synergies throughout expertise, footprint, and prospects. With Grit Consulting’s experience in enterprise transformation and our expertise options capabilities, we are able to ship strategic outcomes for our prospects,” stated Krishna Bodanapu, chief government and managing director, Cyient.
Grit Consulting clocked a turnover of $18.1 million in FY22, and has about 100 staff and consultants working for it.
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