Cyient to acquire Portugal-based Celfinet

Cyient said that it had signed definitive agreements to acquire Celfinet, an international wireless engineering services company, for 41 million euro.

Portugal-based Celfinet is focused on providing end-to-end network planning and performance optimization services.

The reach and performance of ongoing 5G deployment and early steps towards 6G are developing to a point where they provide flawless infrastructure for pervasive and unified connectivity. With this acquisition, Cyient strengthens its Wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their pervasive connectivity networks at scale.

The addition will further strengthen Cyient’s presence in Europe, where Celfinet has a strong footprint, and help scale Cyient’s business across North America and Australia.

Krishna Bodanapu, managing director and CEO, Cyient, said, “Cyient is helping CSPs engineer the networks of tomorrow by delivering solutions across intelligent infrastructure, smart operations, and enterprise network transformation.

Celfinet’s deep expertise and long-standing customer relationships will further add to our capabilities as we strengthen our technology play in wireless networks for 5G rollouts. In addition, Portugal has a highly skilled engineering workforce, making it a strategic innovation hub for expanding our global delivery footprint.”

Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defence; transportation; industrial, energy and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design led manufacturing (Cyient DLM).

The company’s consolidated net profit rose 17% to Rs 154.20 crore while revenue declined 0.19% to Rs 1,181.20 crore in Q4 FY22 over Q3 FY22.

The scrip advanced 0.13% to currently trade at Rs 798.05 on the BSE. PTI