M&A

M&A

Cyient to buy Portugal-based wireless engg co Celfinet for 41-M euros

Press Release  

Publicly listed Cyient, a Hyderabad-headquartered technology solutions company, is to acquire Celfinet, a Lisbon, Portugal-headquartered wireless engineering services company for 41 million euros (translating to 12x of the target company's CY21 Adjusted EBIT). Celfinet provides network planning and performance optimisation services internationally. The company had reported revenue of EUR 17.1 million (with an EBIT of 21.1%) for CY 2011. With the 5G rollout focused acquisition, Cyient strengthens its wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their pervasive connectivity networks at scale. The addition will strengthen Cyient's presence in Europe, and help scale business across North America and Australia.