Cyient acquires 75% stake in Rangsons Electronics

NEW DELHI: Hyderabad-based Cyient Friday inked a definitive agreement to acquire 74% equity stake in Mysore-based Rangsons Electronics, in an all-cash transaction.

The acquisition will allow Cyient to expand into high-technology and high-value, design-led systems and solutions. Further, integrated end-to-end capabilities would strengthen the company’s contribution to the Indian Government’s ‘Make in India’ program, the company said in a joint statement.

"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,” Krishna Bodanapu, managing director & CEO, Cyient said.

Rangsons Electronics is an ESDM and systems integration vendor and is a qualified supplier to global equipment makers across defense and aerospace, medical, automotive, telecommunications, and industrial segments.

“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”, said Pavan Ranga, CEO, Rangsons Electronics.

The acquisition is Cyient’s third in less than a year. Earlier this year, it had acquired Softential, a U.S.-based end-to-end IT service management/assurance solution vendor, and Invati Insights, a start-up data sciences company.