IT firm Cyient Ltd on Wednesday announced that it has acquired Singapore-based Global Services Engineering Asia from Pratt & Whitney Services Pte for an undisclosed sum. Cyient MD and CEO Krishna Bodanapu said: "We are committed to grow aerospace aftermarket services in the region and expand reach into other industries within Singapore." The deal structured as asset purchase is expected to close at the end of August, Cyient said. The company said this acquisition adds further aftermarket capability to its growing aerospace service portfolio.
Global Services provides repairs, development and validation for aero gas turbine engine components in support of Pratt & Whitney throughout the region. This acquisition is through Cyient Singapore Pte, which is a wholly-owned subsidiary of the company. Cyient scrip was trading at Rs 545.10, up 1.16 percent in the morning trade on BSE.
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