Cyient provides enterprise consultancy Grit to its consulting apply
The Indian IT service firm Cyient has taken over Grit Consulting and expanded its consulting division with a staff of round 40 workers.
“This funding aligns with our consulting-centric development technique and we see nice synergies between choices, expertise, footprint and shoppers,” stated Krishna Bodanapu, CEO of Cyient.
Based in 2014, Grit Consulting helps shoppers with a spread of choices together with organizational transformation, operational excellence, course of design, digital transformation and alter administration.
Based in late 2021, Grit Consulting works primarily for shoppers in asset-intensive industries, with a deal with gamers within the metals, mining and vitality sectors. The consulting firm is headquartered in Singapore and has extra places of work in Australia and the United Arab Emirates.
“Grit Consulting is properly established in asset-intensive industries and can allow Cyient to broaden and deepen its footprint in these industries by leveraging synergies with prospects, geographies and expertise. With Grit Consulting’s enterprise transformation experience and know-how options capabilities, we’re capable of ship strategic outcomes for our shoppers,” stated Bodanapu.
In the meantime, by becoming a member of forces, Grit Consulting will allow the corporate to leverage Cyient’s worldwide attain and know-how capabilities to boost its providers, stated Jeremy Brown, founding accomplice of Grit Consulting. “We imagine this coming collectively will additional strengthen our capabilities to allow sustained efficiency enhancements and cultural enhancements throughout the group.”
All through the transaction (whole worth of US$37 million), Grit Consulting was suggested by Equiteq, a worldwide M&A specialist serving the skilled providers trade. “Equiteq has been a real accomplice in facilitating all the transaction course of and actively pursued the worth necessities of Cyient and Grit to maximise transaction potential,” stated John Ptasznik, CEO of Grit Consulting.
The Equiteq staff was led by Sylvaine Masson and Jean-Louis Michelet, supported by Chi Hao Tey and Tibère Simonnet. “They had been an expert, skilled and devoted staff, at all times readily available to deliver readability and consciousness to an advanced and typically daunting course of,” added Ptasznik.
Sylvaine Masson, Director of Equiteq in APAC, said: “It has been a pleasure to help Grit Consulting of their development technique. This transaction brings collectively best-in-class advisory providers and modern know-how options, paving the best way for a really thrilling future.”
The deal follows on the heels of Cyient’s largest acquisition in its 21-year historical past: the acquisition of Finland-based Citec — an tools and product improvement providers firm — for a reported $101 million.
