Cyient acquiring consultancy firm WorkForce Delta for $2.7mn

Global engineering, manufacturing and digital technology solutions company Cyient is acquiring WorkForce Delta, a consulting firm in mobile workforce management for $2.7 million.

The acquisition will bolster the IntelliCyient portfolio by expanding its front-end consulting capabilities for digital mobile workforce management solutions, Cyient said. The proposed acquisition will strengthen Cyient’s digital transformation capabilities and offerings in the Utilities and Telecom industries, the company said.

In a filing, Cyient said it will be acquiring 100% equity of WorkForce Delta through wholly owned subsidiary Cyient Australia Pty Limited. The cost of acquisition comprises an upfront $2.7 million payment, on a cash-free and debt-free basis, and earn outs based on future performance.

Cyient MD and CEO Krishna Bodanapu said by leveraging the team of Workforce Delta’s consultants “we aim to become an industry leader in this area across sectors. This acquisition is also in line with our strategic path forward on enabling digital transformation success via our IntelliCyient framework for our customers.”

Formed in 2015, WorkForce Delta has a team of consultants with decades of experience advising and executing workforce management programmes for corporations globally. “Cyient’s range of solutions and offerings are highly complementary to our mobile workforce management expertise and we look forward to leveraging both organizations’ capabilities to deliver more innovation, value-add and business outcomes,” WorkForce Delta co-founder and MD Yuri Margoulis said.

Source link

%d bloggers like this: