IT major Cyient, headquartered in Hyderabad, India, entered into a definitive agreement to acquire 100 percent equity in the New Britain, CT-based B&F Design Inc., for an undisclosed sum. This acquisition will strengthen Cyient’s aerospace and defense service offerings, by adding Design, Build and Maintain capabilities centered around Tooling and Precision Engineering.
Cyient holds a strong cash position of $155 million and will continue to look for acquisitions that will enable the company to realize its goal of industry-leading growth, reports the Economic Times.
Cision reports that Cyient signed an exclusive software licensing agreement with Elpis Squared a startup software company based in Portland, OR. The partnership will combine Cyient’s data governance management solution—Intelligent Data Management Solution —with Elpis’ innovative RE|Grid platform to enhance the role of data in supporting electric utilities’ Advanced Distribution Management Systems and Asset Management programs. The joint solution launches at a critical time when utilities are deploying Advanced Metering Infrastructure enabling large-scale data validation using machine-learning and analytics.
