Cyient to acquire Australian consulting firm IG Partners to strengthen business in energy and mining industry

HYDERABAD: Engineering and digital technology solutions provider Cyient has announced agreeing to acquire the Australian consulting firm IG Partners to strengthen its digital capabilities in the energy and mining industry.

The Hyderabad headquartered firm, which did not disclose the terms of the transaction terming it as ‘confidential and remains conditional on regulatory approvals, said has a growing presence in Australia, providing solutions to the mining, oil and gas, rail, telecom, and utility industries.

Cyient said it continues to invest in expanding its footprint and creating sustainable value for stakeholders with rapid sectoral growth in the region. The acquisition will enable the development of a unique customer proposition that allows customers to take full advantage of the growing convergence between operational and information technologies, it said.

At present, the IG Partners’ customers include large mining players comprising multiple Fortune 500 companies and Cyient said all its key management personnel of the Australian consulting firm will stay with the business under Cyient ownership.

“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,” said Cyient’s MD and CEO, Krishna Bodanapu. “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.”

Terming the proposed acquisition by Cyient as a transformative moment for both businesses, IG Partners, founder and managing director Herman Kleynhans said, “In joining Cyient, we see tremendous synergies in supporting our customers’ benefit from Industry 4.0. The combination of Cyient’s leading engineering and technology solutions and IG Partner’s mining and utilities expertise uniquely positions us to support value and productivity breakthroughs leveraging digital technologies.”