Cyient to acquire Portugal firm for Euro 41 million

Hyderabad: Hyderabad-based global technology solutions company Cyient on Monday announced signing of definitive agreements to acquire Celfinet. An international wireless engineering services company, Celfinet is focused on providing end-to-end network planning and performance optimisation services. Cyient will acquire the Portugal-based company for Euro 41 million, according to a release. With this acquisition, Cyient plans to […]

Hyderabad: Hyderabad-based global technology solutions company Cyient on Monday announced signing of definitive agreements to acquire Celfinet.

An international wireless engineering services company, Celfinet is focused on providing end-to-end network planning and performance optimisation services. Cyient will acquire the Portugal-based company for Euro 41 million, according to a release.

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With this acquisition, Cyient plans to strengthen its wireless engineering practice to support Communication Service Providers (CSPs) and enterprises in deploying their 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. The addition will further strengthen Cyient’s presence in Europe, where Celfinet has a strong footprint and help scale Cyient’s business across North America and Australia.

Cyient MD and CEO Krishna Bodanapu said, “Celfinet’s deep expertise and long-standing customer relationships will add to our capabilities as we strengthen our technology play in wireless networks for 5G rollouts.”

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