# Cyient to acquire Citec for Rs 800 crore

Cyient, an IT firm, will acquire Citec, a plant and product engineering services company, for approximately Rs 800 crore in an all-cash deal. Citec serves energy, mining, process, oil and gas, and manufacturing industries, with 1,200 employees worldwide.

- Type: Acquisition
- Announced: 2022-04-26
- Where: Finland
- Value: $106.0M (8.00B INR)
- Status: announced
- Products: plant engineering services, product engineering services
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Cyient](https://endata.com/companies/16704.md) (acquirer)
- [Citec](https://endata.com/companies/62514.md) (target)

## Sources

- [apac.cxotv.news](https://apac.cxotv.news/trending-news/it-company-cyient-to-acquire-citec/), 2022-04-26: "Cyient, an IT firm, will acquire Citec, a worldwide plant and product engineering services company, for around Rs 800 crore in order to expand its business offerings."
- [icicidirect.com](https://www.icicidirect.com/research/equity/trending-news/cyient-acquires-100-percent-stake-in-citec), 2022-04-26: "Cyient announced that it is acquiring 100% stake in Finland based CITEC."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.