Cyient to acquire Australian firm IG Partners to expand its offerings for the resources sector
Cyient MD and CEO Krishna BodanapuFile photo

Cyient to acquire Australian firm IG Partners to expand its offerings for the resources sector

Hyderabad, August 31, 2020

Digital engineering and technology major Cyient Limited today said it had agreed to acquire specialist Australian consulting firm, IG Partners, to expand its end-to-end offerings for the local and regional resources sector.

"The acquisition will enable customers to take advantage of the growing convergence of operational and information technologies by leveraging the synergies between Cyient’s proven ability in operational efficiency, asset optimization, and digital transformation, and IG Partners' value creation and transformation in asset and capital-intensive industries," a press release from the company said.

Cyient has a growing presence in Australia, providing solutions to the mining, oil and gas, rail, telecom, and utility industries. With rapid sectoral growth in the region, the company continues to invest in expanding its footprint and creating sustainable value for all stakeholders.

The IG Partners transaction, the terms of which are confidential and remains conditional on regulatory approvals, will result in Cyient taking full ownership of the global partnership, the release said.

IG Partners was formed in 2012 and has a team consisting of partners, practice leads, consultants, project managers, and analysts. The partnership will enable the development of a unique customer proposition that allows its customers to take full advantage of the growing convergence between operational and information technologies.

Commenting on the proposed acquisition, Cyient's MD and CEO, Krishna Bodanapu, said, “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. 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. This acquisition also adds to our footprint in Australia, which is an important region for our future growth.”

"Our team welcomes the firm's proposed acquisition by Cyient as a transformative moment for both businesses," said Herman Kleynhans, Founder and Managing Partner, IG Partners. "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."

IG Partners' customers include large mining players comprising multiple Fortune 500 companies. The company has well-established methodologies and a proven track record in transformation within asset and capital-intensive industries. It is intended that all its key management personnel will stay with the business under Cyient ownership.

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