Cyient

Last updated

Cyient
FormerlyInfotech Enterprises Limited
Company type Public
ISIN INE136B01020
Industry Electronics
Technology
Founded1991;34 years ago (1991)
Founder B. V. R. Mohan Reddy
Headquarters Hyderabad, India
Area served
Worldwide
Key people
Karthikeyan Natarajan (CEO) [1]
RevenueIncrease2.svg₹7,147 crore (US$840 million) (FY24) [2]
Increase2.svg₹986 crore (US$120 million) (FY24) [2]
Increase2.svg₹702 crore (US$82 million) (FY24) [2]
Number of employees
10,000+ (2018)
Subsidiaries Cyient DLM
Website www.cyient.com

Cyient (formerly Infotech Enterprises Limited) is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, networks and operations. It was established in 1991 in Hyderabad as Infotech Enterprises Ltd. [3] Infotech Enterprises was re-branded as Cyient in 2014. [4]

Contents

History

Cyient Ltd .jpg
Cyient office in Manikonda, Hyderabad

Cyient was established as Infotech Enterprises Ltd in 1991 in Hyderabad [3] by B. V. R. Mohan Reddy. In 1995, the company received its first ISO 9002 certification from BVQi London for its conversion services. Infotech Enterprises started to provide engineering service outsourcing, but found immediate opportunity in the GIS arena. [5]

Infotech Enterprises became a public limited company in 1997, had an IPO of equity shares at ₹ 20/- per share and listed in all major stock exchanges in India.[ citation needed ] Around 1999, it signed a breakthrough contract to provide GIS conversion and consultation mapping services worth US$5.5 million to US based Analytical Surveys, Inc. Within the same year, the company acquired Cartographic Sciences from Analytical Surveys, Inc. In June 1999, the company acquired Dataview Solutions Limited, a UK based GIS Software Company. [6] [7] The company continued to pursue engineering services, and won a major engineering services contract with an aircraft engine manufacturer in 2000. [8]

In 2000, Infotech announced the acquisition of a German company, Advanced Graphics Software GmbH (AGS), a mechanical engineering software and services company specialising in 3D CAD/CAM.[ citation needed ] In 2002, Infotech announced a strategic business relationship with the Pratt & Whitney division of United Technologies Corporation. [9] Pratt & Whitney participated in a preferential offer and obtained an 18.4% equity stake in Infotech. [10]

In 2005, Infotech acquired Tele Atlas India Pvt Ltd. Tele Atlas parent company joined as a strategic partner with preferential allotment of shares. [11] Company founder, B V R Mohan Reddy, was elected Chairman of the Confederation of Indian Industry (CII) Southern Region in 2008.[ citation needed ] In January 2010, Daxcon was acquired by Infotech Enterprises America Inc, a wholly owned subsidiary of Infotech Enterprises Limited India. [12] [13]

Infotech Enterprises adopted the Cyient name in 2014 after approval from a shareholders' vote. [14] [3] The process of determining the new identity, bearing connotations to the words client and science, while Cyient referencing Infotech Enterprises, involved various brand specialists, and the new name was tested in 17 languages. [14] [15] After changing its name, Cyient relocated its US headquarters in Connecticut to a new building. [3] It acquired Softential, Inc in 2014. [16] Cyient also acquired Invati Insights in 2014, with the new entity named Cyient Insights. [14] [17]

In 2015, Cyient acquired Pratt & Whitney Global Services Engineering Asia. [3] In 2015, Cyient acquired a 74% stake in Rangsons Electronics, a Mysore-based systems integrator and small series manufacturing firm. The Rangsons division was renamed to Cyient DLM. [18] [14] [19] On February 8, 2017, Cyient Inc. agreed to acquire Certon Software Inc. [20]

On April 25, 2022, Cyient announced to acquire the Finnish plant and product engineering services company Citec. [21] Shortly after, on June 6, 2022, Cyient also announced the acquisition of Portuguese wireless engineering services company Celfinet. [22]

In June 2023, Cyient's electronics manufacturing services subsidiary Cyient DLM launched its IPO and got listed on NSE and BSE. [23]

Operations

U.S. Ambassador to India Nancy Powell and Deputy Secretary of Defense Ashton B. Carter are welcomed to Cyient by Mohan Reddy, chairman and managing director, and U.S. Consul General Katherine Dhanani; Hyderabad, July 2012. 120724-D-TT977-027 (7637019378).jpg
U.S. Ambassador to India Nancy Powell and Deputy Secretary of Defense Ashton B. Carter are welcomed to Cyient by Mohan Reddy, chairman and managing director, and U.S. Consul General Katherine Dhanani; Hyderabad, July 2012.

Cyient Limited as of 2014 provides "software-enabled engineering & geographic information system (GIS) services." [20] In February 2017, Cyient had around 14,000 employees in 21 countries in Asia, Europe, and North America. [3]

In January 2017, Cyient opened facilities at the Incubation Centre of the Telangana State Industrial Infrastructure Corporation in Warangal, also began to build a 70,000 square feet Technology Development Centre at Madikonda Special Economic Zone in Warangal. [24] [25] In February 2017, Cyient and ANSYS agreed to set up a simulation lab at Cyient's facility in Hyderabad to develop proof-of-concepts. [26]

Cyient acquired 74 percent equity stake in Rangsons Electonics Pvt Ltd in February 2015 and renamed it to Cyient DLM. The Mysuru-headquartered Rangsons Electronics, is an electronics system design and manufacturing (EDSM) services company. It is the 2nd largest electronics manufacturer after Dixon Technologies. [27]

With its United States headquarters in the state of Connecticut, [3] in return for a pledge to add 85 jobs to the state, in February 2017, Cyient Inc. in East Hartford received a $500,000 loan from the state Department of Economic and Community Development for new machinery and equipment. At the time, Cyient was a supplier to Connecticut engine builders and employed 456 full-time workers in Connecticut. [3]

See also

Related Research Articles

<span class="mw-page-title-main">Red Hat</span> Computing services company

Red Hat, Inc. is an American software company that provides open source software products to enterprises and is a subsidiary of IBM. Founded in 1993, Red Hat has its corporate headquarters in Raleigh, North Carolina, with other offices worldwide.

<span class="mw-page-title-main">Pratt & Whitney</span> Aircraft engine manufacturer

Pratt & Whitney is an American aerospace manufacturer with global service operations. It is a subsidiary of RTX Corporation. Pratt & Whitney's aircraft engines are widely used in both civil aviation and military aviation. Its headquarters are in East Hartford, Connecticut. The company is the world's second largest commercial aircraft engine manufacturer, with a 35% market share as of 2020. In addition to aircraft engines, Pratt & Whitney manufactures gas turbine engines for industrial use, marine propulsion, and power generation. In 2017, the company reported that it supported more than 11,000 customers in 180 countries around the world.

<span class="mw-page-title-main">Fujitsu</span> Japanese multinational technology company

Fujitsu Limited is a Japanese multinational information and communications technology equipment and services corporation, established in 1935 and headquartered in Kawasaki, Kanagawa. It is the world's sixth-largest IT services provider by annual revenue, and the largest in Japan, as of 2021.

<span class="mw-page-title-main">Tata Consultancy Services</span> Indian multinational technology company

Tata Consultancy Services (TCS) is an Indian multinational technology company specializing in information technology services and consulting. Headquartered in Mumbai, it is a part of the Tata Group and operates in 150 locations across 46 countries. It is the second-largest Indian company by market capitalization.

<span class="mw-page-title-main">Warangal</span> Major city in Telangana, India

Warangal is a city in the Indian state of Telangana and the district headquarters of Warangal district. It is the second largest city in Telangana with a population of 811,844 per 2011 Census of India, and spreading over an 406 km2 (157 sq mi). Warangal served as the capital of the Kakatiya dynasty which was established in 1163. The monuments left by the Kakatiyas include fortresses, lakes, temples and stone gateways which, in the present, helped the city to become a popular tourist attraction. The Kakatiya Kala Thoranam was included in the emblem of Telangana by the state government and Warangal is also touted as the cultural capital of Telangana.

<span class="mw-page-title-main">HCLTech</span> Indian multinational technology company

HCL Technologies Limited is an Indian multinational information technology (IT) consulting company headquartered in Noida, Uttar Pradesh. Founded by Shiv Nadar, it was spun out in 1991 when HCL entered into the software services business. The company has offices in 59 countries and over 220,000 employees.

<span class="mw-page-title-main">Apax Partners</span> British private equity firm

Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of March 2024, the firm had raised and advised funds of approximately US$77 billion. Apax Partners is one of the oldest and largest private equity firms operating on an international basis.

<span class="mw-page-title-main">Software industry in Telangana</span> Overview of the software industry in the Indian state of Telangana

The Indian state of Telangana has a 31% share of software export in India. While the majority of the industry is concentrated in Hyderabad, other cities are also becoming significant IT destinations in the state. Hyderabad houses the largest campuses of tech giants like Google, Facebook, Microsoft, Amazon, and Apple outside of the US. In Hyderabad, the central region of the business happens in Financial District, HITECH City, the Madhapur suburb, Kokapet SEZ (Neopolis) and Salarpuria Sattva Knowledge City. As of 2023, Hyderabad has 9,05,715 employees in the IT/ITES sector, working in more than 1500 companies. The number of startups in Telangana had increased from 400 in 2016 to 2,000 in 2022. Hyderabad added two companies in unicorn startup list in first two months of 2022.

Mindtree Limited was an Indian multinational information technology services and consulting company, headquartered in Bangalore. Mindtree was acquired by Larsen & Toubro in 2019, before being merged with L&T Infotech (LTI) in 2022 to form LTIMindtree.

Persistent Systems is an Indian multinational technology services company based in Pune. It is primarily engaged in cloud computing, internet of things, endpoint security, big data analytics and software product engineering services.

Mphasis Limited is an Indian multinational information technology service and consulting company based in Bangalore. The company provides infrastructure technology and applications outsourcing services, as well as architecture guidance, application development and integration, and application management services. It serves financial services, telecom, logistics, and technology industries. Mphasis was ranked #7 in Indian IT companies and overall #189 by Fortune India 500 in 2019. In April 2016, Hewlett Packard Enterprise sold the majority of its stake in Mphasis to Blackstone Group LP for around US$1 billion.

<span class="mw-page-title-main">Wipro</span> Multinational IT services and consulting company

Wipro Limited is an Indian multinational technology company based in Bengaluru. It provides information technology, consulting and business process services. It is one of the six leading Indian Big Tech companies. Wipro's capabilities range across cloud computing, computer security, digital transformation, artificial intelligence, robotics, data analytics, and other technologies, servicing customers in 167 countries.

Madikonda is a neighbourhood of Warangal in Telangana, India. It is on the way from Hyderabad to Warangal on National Highway 163 (India). During 2011 Census, Madikonda which was earlier a partly rural village have been classified as fully outgrowth to Warangal urban assemblage, and has become part of Greater Warangal Municipal Corporation.

<span class="mw-page-title-main">Blue Star Infotech</span>

Blue Star Infotech Ltd, based in Mumbai with offices in Bangalore, Santa Clara, New Jersey, London, Singapore, Malaysia, was a global provider of product development services, enterprise solutions and services, travel technology solutions and testing services with operations in North America, Europe, UK, and India. It was part of the USD $700M Blue Star Group. They had service delivery centers in the United States, United Kingdom, India, Singapore and Malaysia. Blue Star Infotech was ranked in the list of 2013 Global Services 100 companies of Global IT and Business Process Outsourcing.

<span class="mw-page-title-main">Murugappa Group</span> Indian conglomerate

Murugappa Group is an Indian conglomerate founded in 1900 by A. M. Murugappa Chettiar. The Group has 29 businesses including 10 companies listed on the NSE and the BSE. Headquartered in Chennai, the major companies of the Group include Carborundum Universal, Cholamandalam Financial Holdings, Cholamandalam Investment and Finance, Cholamandalam MS General Insurance, Coromandel International, EID Parry, Parry Agro Industries, Shanthi Gears, Tube Investments of India, Wendt (India), and CG Power and Industrial Solutions. In 2024, their net worth was estimated as ₹85,000 Crore.

LTIMindtree Limited is an Indian multinational information technology services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, the company was incorporated in 1996 and employs more than 81,000 people.

<span class="mw-page-title-main">B. V. R. Mohan Reddy</span> Indian businessman

B. V. R. Mohan Reddy is an Indian business executive and engineering manager who founded and served as Executive Chairman of Cyient. He joined the DCM Group in 1974, and has subsequently worked with MICO Bosch, HCL, and OMC Computers Limited. He was the Chairman of NASSCOM from 2014–2015, and is a business analyst.

Telangana has multiple institutes of higher education universities along with numerous primary and secondary schools.

<span class="mw-page-title-main">RTX Corporation</span> American multinational aerospace and defense conglomerate

RTX Corporation, formerly Raytheon Technologies Corporation, is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia. It is one of the largest aerospace and defense manufacturers in the world by revenue and market capitalization, as well as one of the largest providers of intelligence services. In 2023, the company's seat in Forbes Global 2000 was 79. RTX manufactures aircraft engines, avionics, aerostructures, cybersecurity solutions, guided missiles, air defense systems, satellites, and drones. The company is a large military contractor, getting much of its revenue from the U.S. government.

References

  1. ↑ "Cyient to focus actively on India: CEO Karthikeyan Natarajan". Financial Express. 24 April 2023. Retrieved 26 April 2024.
  2. 1 2 3 "Financial Results For The Quarter And Year Ended 31 March 2024" (PDF). BSE. Retrieved 26 March 2024.
  3. 1 2 3 4 5 6 7 8 Seay, Gregory (2 February 2017). "With CT's $500K, Cyient to expand, add jobs". Hartford Business. Hartford, Connecticut. Archived from the original on 8 May 2019. Retrieved 28 February 2017.
  4. ↑ The 2014 Global Outsourcing 100, IAOP, 2014, retrieved 27 February 2017
  5. ↑ Company History, hdfcsec.com, archived from the original on 4 March 2014, retrieved 28 February 2017
  6. ↑ "Infotech Enterprises Stock Price and Quotes - Infotech Enterprises Company Profile". Archived from the original on 20 December 2011. Retrieved 20 January 2012.
  7. ↑ SEI Partner Network | Infotech Enterprises America, Inc
  8. ↑ "Infotech Enterprises Receive Honors From Indo-German Chamber Of Commerce | Top News". Archived from the original on 5 July 2011. Retrieved 25 January 2012.
  9. ↑ "Infotech Ties Up With Pratt & Whitney". Business Standard. 26 February 2002. Retrieved 26 April 2024.
  10. ↑ "Infotech To Issue 12 Lakh Shares To Pratt & Whitney". Business Standard. 15 December 2001. Retrieved 26 April 2024.
  11. ↑ "Infotech Enterprises inks multi-year pact with Tele Atlas - Stock Watch". www.stockwatch.in. 17 March 2008.
  12. ↑ "Infotech buys US engg services firm". Business Standard. 19 January 2010. Retrieved 26 April 2024.
  13. ↑ "Infotech arm in all-cash deal to buy Daxcon". The New Indian Express. Retrieved 26 April 2024.
  14. 1 2 3 4 "Infotech Enterprises rebranded as Cyient". 7 May 2014.
  15. ↑ "Infotech to Become Cyient Ltd". The Hindu Business Line. India. 2014. Retrieved 28 February 2017.[ dead link ]
  16. ↑ Kesireddy, Raji Reddy (7 March 2014). "Infotech Enterprises to buy US firm Softential Inc for $20 million". The Economic Times. Retrieved 26 April 2024.
  17. ↑ "Cyient Ltd buys data sciences start-up Invati Insights". The Economic Times . 21 August 2014. Archived from the original on 19 April 2015. Retrieved 28 February 2017.
  18. ↑ "Cyient acquires Rangsons Electronics for Rs 360 crore". The Times of India. 3 January 2015. ISSN   0971-8257 . Retrieved 21 July 2023.
  19. ↑ Press Trust of India (2 January 2015). "Cyient acquires 74% stake in Rangsons Electronics". Business Standard India.
  20. 1 2 "Cyient enters a definitive agreement to acquire 100% equity in Certon Software Inc". IIFL . New York City. 9 February 2017. Retrieved 27 February 2017.
  21. ↑ "Cyient clinches its largest deal with acquisition of Finnish player Citec for 94 million euro | India Business News - Times of India". The Times of India. 25 April 2022. Retrieved 26 April 2022.
  22. ↑ "Hyderabad: Cyient to acquire Portuguese engineering services co Celfinet". The Times of India. 7 June 2022. Retrieved 26 April 2024.
  23. ↑ "Cyient DLM sets IPO price band at Rs 250-265". The Economic Times. 23 June 2023. Retrieved 26 April 2024.
  24. ↑ "Cyient starts operations at Warangal facility". The Hindu . India. 22 January 2017. Retrieved 28 February 2017.
  25. ↑ "IT Incubation Centre Inaugurated in Warangal". Business Standard .
  26. ↑ "Cyient, ANSYS ink MoU". The Hindu . India. 23 February 2017. Retrieved 28 February 2017.
  27. ↑ https://www.moneycontrol.com/news/business/cyient-to-acquire-remaining-26-stake-in-edsm-subsidiary-3422121.html
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.