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The Indian IT service firm Cyient has taken over Grit Consulting and expanded its consulting division with a staff of round 40 staff.

“This funding aligns with our consulting-centric progress technique and we see nice synergies between choices, expertise, footprint and purchasers,” stated Krishna Bodanapu, CEO of Cyient.

Based in 2014, Grit Consulting helps purchasers with a variety 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 purchasers in asset-intensive industries, with a concentrate on gamers within the metals, mining and vitality sectors. The consulting firm is headquartered in Singapore and has extra workplaces in Australia and the United Arab Emirates.

“Grit Consulting is nicely established in asset-intensive industries and can allow Cyient to develop and deepen its footprint in these industries by leveraging synergies with clients, geographies and expertise. With Grit Consulting’s enterprise transformation experience and expertise options capabilities, we’re in a position to ship strategic outcomes for our purchasers,” stated Bodanapu.

In the meantime, by becoming a member of forces, Grit Consulting will allow the corporate to leverage Cyient’s worldwide attain and expertise capabilities to reinforce its companies, stated Jeremy Brown, founding associate of Grit Consulting. “We consider 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 world M&A specialist serving the skilled companies trade. “Equiteq has been a real associate in facilitating your complete 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, all the time 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 progress technique. This transaction brings collectively best-in-class advisory companies and revolutionary expertise 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 gear and product growth companies firm — for a reported $101 million.