Cyient to acquire WorkForce Delta for $2.7 million
The Hyderabad-headquartered IT firm will buy the Australian outfit in an all-cash deal valued at $2.7 million.
Digital solutions firm Cyient will acquire WorkForce Delta, a consulting firm in mobile workforce management, for $2.7 million in an all-cash transaction.
Workforce Delta, headquartered in Melbourne, Australia, helps enterprises in oil and gas, utilities, telecom and cable industries to plan and deploy their workforce optimally. Cyient's Australian subsidiary will acquire a 100 percent stake in WorkForce Delta.
“This acquisition is in line with our strategic path forward on enabling digital transformation success via our IntelliCyient framework for our customers," said Krishna Bodanapu, CEO and Managing Director of Cyient.
Cyient announced the launch of its IntelliCyient Suite in April 2021. It offers industry 4.0 solutions to help enterprises in manufacturing, utilities, aerospace, automotive, and mining and natural resources.
Workforce Delta was set up in 2015, and reported revenue of $2.9 million in fiscal year (FY) 2021, up 93 percent over FY 2020. It employs 11 consultants.
Cyient, headquartered in Hyderabad, said it recognises the growing demand for field force management solutions in the utilities and telecom industries. WorkForce Delta will bolster its capabilities, and expand its presence in this sector.
Edited by Kunal Talgeri