Hyderabad: City-based engineering and operations solutions firm Cyient Ltd on Friday announced its acquisition of 74 per cent stake in Rangson Electronics, a Mysore-based electronic manufacturing services (EMS) for an undisclosed amount. The all cash transaction will strengthen the company’s end -to-end capabilities in integrated engineering design and production, Cyient stated.
In addition, Cyient MD and CEO Krishna Bodanapu said, “With its strong domain expertise coupled with a comprehensive solution portfolio...and global customers, Rangsons Electronics fits extremely well in Cyient’s business. The new relationship will help Cyient expand its core business while deepening partnership with OEM customers”. In terms of employee strength, Manjunatha Hebbar, head, product realisation, said that this acquisition is going to add up to 1,000 employees for their system development department.
The acquisition is Cyient’s third in less than a year. Last year, the company acquired US-based IT-service provider Softential and Invati Insights, a start-up data sciences company. Cyient’s scrip was trading at 521.50, up 1.39 per cent, on BSE
