Cyient completes acquisition of Finland firm Citec

Hyderabad Cyient, an engineering and technology solutions company, announced that it has fully integrated the Finland based acquired entity, Citec, into Cyient. As one of the final steps of the integration process, the Founder Chairman of Cyient, Dr BVR Mohan Reddy visited the offices in Vaasa and Helsinki to commemorate this integration into Cyient.

The event held in Helsinki was attended by the Ambassador of India to Finland and Head of Business Finland for India, the Middle East and Africa. “I am impressed by the available talent, the ease of doing business, and the robust startup ecosystem,” said Mohan Reddy.

As a sign of things to come, Cyient entered into a Memorandum of Understanding (MoU) with Vaasa-based Novia University of Applied Sciences. The two parties have agreed to partner on research and innovation, education, skill development programmes and recruitment.

While Cyient has completed 20 acquisitions over 32-years, Citec was the largest in terms of revenue, valuation, number of people, and geographic locations. It was the first in the Nordics region and has provided expanded capabilities in sustainability services.