Cyient targets Australia with IG Partners acquisition

Indian engineering and digital solutions company Cyient will acquire Australian mining-focused consultancy IG Partners.
Cyient targets Australia with IG Partners acquisition Cyient targets Australia with IG Partners acquisition Cyient targets Australia with IG Partners acquisition Cyient targets Australia with IG Partners acquisition Cyient targets Australia with IG Partners acquisition

IG Partners have experience in value creation and transformation in the mining industry

Cyient said the acquisition would combine its expertise in operational efficiency, asset optimisation, and digital transformation with IG Partners' experience in value creation and transformation in the mining industry.

The companies plan to work together on enterprise asset management solutions, including predictive maintenance and warranty management, as well as exploration data compilation and minerals exploration data management.

The partnership will also allow customers to benefit from a growing convergence between operational and information technologies, added the company. Financial details of the purchase were not disclosed.

"Mining is an important focus industry and Australia is a strategic region for Cyient's growth," said managing director and chief executive, Krishna Bodanapu.

"Mining is being transformed by the 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. This acquisition also adds to our footprint in Australia."

Herman Kleynhans, founder and managing partner of IG Partners, said the acquisition was a "transformative moment for both businesses".

"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," said Kleynhans.