Engineering and technology solutions company Cyient has fully integrated Citec, the Finland-based international plant and product engineering firm it had acquired last year.
Of the 20 acquisitions Cyient has completed over its 32-year history, Citec was the largest in terms of revenue, valuation, number of people, and geographic locations. It was also its first in the Nordic region, and the acquisition has provided expanded capabilities in sustainability services and plant engineering. Founder chairman B.V.R Mohan Reddy visited Citec offices in Vaasa and Helsinki to commemorate the integration, the Hyderabad-based firm said in a release on Monday.
Cyient has entered into an MoU with Vaasa-based Novia University of Applied Sciences under which the two organisations have agreed to partner in research and innovation, education, skill development programmes and recruitment. Participating in an event organised on the occasion, Ambassador of India to Finland Raveesh Kumar said that Cyient has promised to build relationships with local innovation hubs, educational institutions and the business community to promote the country.
“Both Finland and India enjoy a warm relationship. Finland can be a launching platform for Cyient to expand their presence in Europe,” he said.
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