Cyient to acquire Citec to gain plant and product engineering expertise and expand its presence in Europe
Cyient, a leading global technology solutions company with more than 14,000 associates across 19 countries, today announced that it is set to acquire Citec.
The acquisition and partnership with Citec will enhance Cyient’s position as a leader in the plant and product engineering services sector, strengthen its presence in the energy industry with a focus on clean energy, and expand its European footprint especially in the Nordic region, and in Germany and France. Funds managed by Sentica Partners and all other shareholders are selling 100% of their shares to Cyient. The acquisition is signed and is planned to be closed on May 10, 2022.
