Global technology solutions company Cyient on Monday announced that it had signed definitive agreements to acquire Portugal-based wireless engineering services firm Celfinet.
Cyient will acquire Celfinet for 41 million euros, the company said in a statement.
With this acquisition, Cyient will strengthen its wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their pervasive connectivity networks at scale.
This will also enable enterprises to build networks to harness the power of 5G and drive their own digital transformation journey.
With the acquisition, Cyient aims to strengthen its presence in Europe, where Celfinet has a strong footprint, and also scale business across North America and Australia, the company said.
“Cyient is helping CSPs engineer the networks of tomorrow by delivering solutions across intelligent infrastructure, smart operations, and enterprise network transformation. Celfinet’s deep expertise and long-standing customer relationships will further add to our capabilities as we strengthen our technology play in wireless networks for 5G rollouts,” said Krishna Bodanapu, MD and CEO, Cyient, in the statement.
“We are very excited about this new journey we are starting with Cyient. Cyient presented not only shared values but also an ambitious and innovative vision for the future, with Celfinet acting as the cornerstone investment to drive Cyient’s wireless engineering forward,” added Nuno Ribeiro and Jose Mata, Founder and Co-CEOs, from Celfinet.