Cyient to acquire majority stake in Rangsons Electronics

MUMBAI:  Cyient has signed a definitive agreement to acquire 74 per cent equity stake in Rangsons Electronics, an electronics system design and manufacturing (ESDM) services company, headquartered in Mysore, in an all-cash transaction.

The acquisition positions Cyient strongly to expand into high-technology and high-value, design-led systems and solutions in line with the company’s S3 (services, systems and solutions) strategy.

Cyient MD and CEO Krishna Bodanapu said, "With its strong domain expertise coupled with a comprehensive solution portfolio, industry-relevant processes, certifications, and global customers, Rangsons Electronics fits extremely well in Cyient’s business. The new relationship will help Cyient expand its core business while deepening partnerships with OEM customers. I look forward to working closely with the Rangsons team to achieve the maximum synergy from this acquisition, and believe that this will make our offerings even more attractive to our customers.”

Rangsons Electronics is a well-established ESDM and systems integration vendor with over two decades of experience in developing highly complex systems.

 “Rangsons Electronics has built India's leading platform within the electronics segment with client-centric service delivery, driven by award winning quality systems. We have found a complementary partner in Cyient, who has built a global engineering solutions business backed by strong technology and ethos. We are proud to associate with them and believe the combined entity will be positioned uniquely as an end-to-end integrated engineering, design and manufacturing provider. My team and I are very excited about this association and look forward to achieving our shared growth objectives”, said Rangsons Electronics CEO Pavan Ranga.

 The proposed acquisition is Cyient’s third in less than a year, and reflects the company’s strong growth focus. Its acquisitions earlier in 2014 included Softential, a US-based end-to-end IT service management/assurance solution vendor, and Invati Insights, a start-up data sciences company.


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