View source for Cyient

{{Short description|Global multinational technology company}}
{{Cleanup-PR|1=article|date=April 2022}}
{{Use dmy dates|date=September 2016}}
{{Use Indian English|date=September 2016}}
{{Infobox company
| name = Cyient
| logo = [[File:Cyient logo.jpg|220px|Cyient logo]]
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|532175}}|{{NSE|CYIENT}}}}
| ISIN = INE136B01020
| location = [[Hyderabad]], India
| founder = [[B. V. R. Mohan Reddy]]
| founded = {{start date  and age|1991}}
| industry = [[Technology]]
| area_served = Worldwide
| key_people = Karthikeyan Natarajan (CEO)<ref>{{cite news |title=Cyient to focus actively on India: CEO Karthikeyan Natarajan |url=https://www.financialexpress.com/industry/cyient-to-focus-actively-on-india-ceo-karthikeyan-natarajan/3059276/ |access-date=26 April 2024 |work=Financial Express |date=24 April 2023 |language=en}}</ref>
| num_employees = 10,000+ (2018)
| revenue = {{up}} {{INRConvert|7147|c}} (FY24)<ref name="fy24"/>
| operating_income = {{up}} {{INRConvert|986|c}} (FY24)<ref name="fy24"/>
| net_income = {{up}} {{INRConvert|702|c}} (FY24)<ref name="fy24">{{cite news |title=Financial Results For The Quarter And Year Ended 31 March 2024 |url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/cb9111c5-eac9-4644-bff8-581f7d66a064.pdf |access-date=26 March 2024 |work=BSE}}</ref>
| homepage = {{URL|www.cyient.com}}
| former_name = Infotech Enterprises Limited
}}
'''Cyient''' (formerly '''Infotech Enterprises Limited''') is an Indian [[Multinational corporation|multinational]] technology company that is focused on [[engineering]], [[manufacturing]], [[data analytics]], [[Computer network|network]]s and operations. It was established in 1991 in [[Hyderabad]] as Infotech Enterprises Ltd.<ref name=seay-gregory/> Infotech Enterprises was re-branded as Cyient in 2014.<ref name="top-out">{{Citation
|publisher = IAOP
| year       =2014
| title      =The 2014 Global Outsourcing 100
| url        =http://www.iaop.org/Content/19/165/3879
| accessdate =February 27, 2017
}}</ref>
==History==
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|bSize = 400
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|cHeight = 150
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|oLeft= 45
|Location=right
|Description = Cyient office in [[Manikonda]], [[Hyderabad]]
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Cyient was established as Infotech Enterprises Ltd in 1991 in [[Hyderabad]]<ref name=seay-gregory/> 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.<ref name=company-history>{{Citation|title=Company History|publisher=hdfcsec.com|url=http://hdfcsec.com/Market/Information.aspx?CoCode=13660&RptType=History|accessdate=February 28, 2017|url-status=dead|archive-url=https://web.archive.org/web/20140304025915/http://hdfcsec.com/Market/Information.aspx?CoCode=13660&RptType=History|archive-date=4 March 2014|df=dmy-all}}</ref>
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|date=February 2017}} 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.<ref>{{cite web |url=http://economictimes.indiatimes.com/infotech-enterprises-ltd/stocks/companyid-4978.cms// |title=Infotech Enterprises Stock Price and Quotes - Infotech Enterprises Company Profile<!-- Bot generated title --> |access-date=20 January 2012 |archive-url=https://web.archive.org/web/20111220230114/http://economictimes.indiatimes.com/infotech-enterprises-ltd/stocks/companyid-4978.cms |archive-date=20 December 2011 |url-status=dead |df=dmy-all }}</ref><ref>[http://www.sei.cmu.edu/partners/infotech-enterprises/index.cfm// SEI Partner Network | Infotech Enterprises America, Inc<!-- Bot generated title -->]</ref> The company continued to pursue engineering services, and won a major engineering services contract with an aircraft engine manufacturer in 2000.<ref>{{cite web |url=http://www.indian-commodity.com/top-news/infotech-enterprises-receive-honors-from-indo-german-chamber-of-commerce.aspx/ |title=Infotech Enterprises Receive Honors From Indo-German Chamber Of Commerce {{!}} Top News<!-- Bot generated title --> |access-date=25 January 2012 |archive-url=https://web.archive.org/web/20110705182953/http://www.indian-commodity.com/top-news/infotech-enterprises-receive-honors-from-indo-german-chamber-of-commerce.aspx |archive-date=5 July 2011 |url-status=dead }}</ref>
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|date=February 2017}} In 2002, Infotech announced a strategic business relationship with the [[Pratt & Whitney]] division of [[United Technologies Corporation]].<ref>{{cite news |title=Infotech Ties Up With Pratt & Whitney |url=https://www.business-standard.com/article/companies/infotech-ties-up-with-pratt-whitney-102022601019_1.html |access-date=26 April 2024 |work=Business Standard |date=26 February 2002}}</ref> Pratt & Whitney participated in a [[Preferred stock|preferential offer]] and obtained an 18.4% equity stake in Infotech.<ref>{{cite news |title=Infotech To Issue 12 Lakh Shares To Pratt & Whitney |url=https://www.business-standard.com/article/markets/infotech-to-issue-12-lakh-shares-to-pratt-whitney-101121501037_1.html |access-date=26 April 2024 |work=Business Standard |date=15 December 2001}}</ref>
In 2005, Infotech acquired [[Tele Atlas]] India Pvt Ltd. Tele Atlas parent company joined as a strategic partner with preferential allotment of shares.<ref>{{cite web|url=http://www.stockwatch.in/infotech-enterprises-inks-multi-year-pact-tele-atlas-2691|title=Infotech Enterprises inks multi-year pact with Tele Atlas - Stock Watch|date=17 March 2008 |publisher=www.stockwatch.in}}</ref> Company founder, B V R Mohan Reddy, was elected Chairman of the [[Confederation of Indian Industry]] (CII) Southern Region in 2008.{{citation needed|date=February 2017}} In January 2010, [[Daxcon]] was acquired by Infotech Enterprises America Inc, a wholly owned subsidiary of Infotech Enterprises Limited India.<ref>{{cite news |title=Infotech buys US engg services firm |url=https://www.business-standard.com/article/technology/infotech-buys-us-engg-services-firm-110011900051_1.html |access-date=26 April 2024 |work=Business Standard |date=19 January 2010}}</ref><ref>{{cite news |title=Infotech arm in all-cash deal to buy Daxcon |url=https://www.newindianexpress.com/business/2010/Jan/19/infotech-arm-in-all-cash-deal-to-buy-daxcon-161956.html |access-date=26 April 2024 |work=The New Indian Express |language=en}}</ref>
Infotech Enterprises adopted the Cyient name in 2014 after approval from a shareholders' vote.<ref name=autogenerated1/><ref name=seay-gregory/> 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.<ref name=autogenerated1>{{cite web|url=http://businesstoday.intoday.in/story/infotech-enterprises-rebranded-as-cyient/1/205973.html|title=Infotech Enterprises rebranded as Cyient|date=7 May 2014 }}</ref><ref>{{cite news
| date         = 2014
| title        = Infotech to Become Cyient Ltd.
| url          = http://www.thehindubusinessline.com/features/smartbuy/infotech-to-become-cyient-ltd/article5839628.ece+&cd=2&hl=en&ct=clnk&gl=in
| work         = The Hindu Business Line
| location     = India
| access-date  = February 28, 2017
}} {{dead link|date=February 2017}}</ref> After changing its name, Cyient relocated its US headquarters in [[Connecticut]] to a new building.<ref name=seay-gregory/> It acquired Softential, Inc in 2014.<ref>{{cite news |last1=Kesireddy |first1=Raji Reddy |title=Infotech Enterprises to buy US firm Softential Inc for $20 million |url=https://economictimes.indiatimes.com/tech/ites/infotech-enterprises-to-buy-us-firm-softential-inc-for-20-million/articleshow/31612938.cms |access-date=26 April 2024 |work=The Economic Times |date=7 March 2014}}</ref> Cyient also acquired Invati Insights in 2014, with the new entity named Cyient Insights.<ref name=autogenerated1 /><ref>
{{cite news
|date         = August 21, 2014
|title        = Cyient Ltd buys data sciences start-up Invati Insights
|url          = http://articles.economictimes.indiatimes.com/2014-08-21/news/53072915_1_analytics-sciences-infotech-enterprises
|work         = [[The Economic Times]]
|access-date  = February 28, 2017
|archive-url  = https://web.archive.org/web/20150419024326/http://articles.economictimes.indiatimes.com/2014-08-21/news/53072915_1_analytics-sciences-infotech-enterprises
|archive-date = 19 April 2015
|url-status     = dead
|df           = dmy-all
}}
</ref>
In 2015, Cyient acquired Pratt & Whitney Global Services Engineering Asia.<ref name=seay-gregory/> 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.<ref>{{Cite news |date=2015-01-03 |title=Cyient acquires Rangsons Electronics for Rs 360 crore |work=The Times of India |url=https://timesofindia.indiatimes.com/business/india-business/cyient-acquires-rangsons-electronics-for-rs-360-crore/articleshow/45738668.cms |access-date=2023-07-21 |issn=0971-8257}}</ref><ref name=autogenerated1 /><ref name=rangsons>{{cite news|url=http://www.business-standard.com/article/pti-stories/cyient-acquires-74-stake-in-rangsons-electronics-115010200220_1.html|title=Cyient acquires 74% stake in Rangsons Electronics|author=Press Trust of India|newspaper=Business Standard India |date=2 January 2015}}</ref> On February 8, 2017, Cyient Inc. agreed to acquire Certon Software Inc.<ref name=certon-acquire>{{cite news |date=February 9, 2017 |title=Cyient enters a definitive agreement to acquire 100% equity in Certon Software Inc.  |url=http://www.indiainfoline.com/article/news-top-story/cyient-cyient-enters-a-definitive-agreement-to-acquire-100-equity-in-certon-software-inc-117020900730_1.html | work=[[IIFL]] |location=[[New York City]] |access-date=February 27, 2017 }}</ref>
On April 25, 2022, Cyient announced to acquire the Finnish plant and product engineering services company Citec.<ref>{{Cite news |last= |first= |last2= |last3= |first3= |title=Cyient clinches its largest deal with acquisition of Finnish player Citec for 94 million euro {{!}} India Business News - Times of India |url=https://timesofindia.indiatimes.com/business/india-business/cyient-clinches-its-largest-deal-with-acquisition-of-finnish-player-citec-for-94-million-euro/articleshow/91072553.cms |access-date=2022-04-26 |website=The Times of India |date= 25 April 2022|language=en}}</ref> Shortly after, on June 6, 2022, Cyient also announced the acquisition of Portuguese wireless engineering services company Celfinet.<ref>{{cite news |title=Hyderabad: Cyient to acquire Portuguese engineering services co Celfinet |url=https://timesofindia.indiatimes.com/city/hyderabad/cyient-to-acquire-portuguese-engg-services-co-celfinet/articleshow/92049369.cms |access-date=26 April 2024 |work=The Times of India |date=7 June 2022}}</ref>
In June 2023, Cyient's [[electronics manufacturing services]] subsidiary Cyient DLM launched its IPO and got listed on NSE and BSE.<ref>{{cite news |title=Cyient DLM sets IPO price band at Rs 250-265 |url=https://economictimes.indiatimes.com/markets/ipos/fpos/cyient-dlm-sets-ipo-price-band-at-rs-250-265/articleshow/101202868.cms |access-date=26 April 2024 |work=The Economic Times |date=23 June 2023}}</ref>
==Operations==
[[File:120724-D-TT977-027 (7637019378).jpg|thumb|U.S. Ambassador to India [[Nancy Powell]] and Deputy Secretary of Defense [[Ashton B. Carter]] are welcomed to Cyient by [[B V R Mohan Reddy|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."<ref name=certon-acquire/> In February 2017, Cyient had around 14,000 employees in 21 countries in Asia, Europe, and North America.<ref name=seay-gregory/>
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]] [[List of special economic zones in India#Telangana|Special Economic Zone in Warangal]].<ref name=starts-operations>{{cite news |date=January 22, 2017 |title=Cyient starts operations at Warangal facility |url=http://www.thehindubusinessline.com/info-tech/cyient-begins-operations-at-incubation-centre-in-telangana/article9496175.ece | work=[[The Hindu]] |location=[[India]] |access-date=February 28, 2017 }}</ref><ref>{{cite news |title=IT Incubation Centre Inaugurated in Warangal |url=http://www.business-standard.com/article/pti-stories/it-incubation-centre-inaugurated-in-warangal-116021900844_1.html | work=[[Business Standard]] }}</ref> In February 2017, Cyient and [[ANSYS]] agreed to set up a simulation lab at Cyient's facility in Hyderabad to develop [[proof-of-concept]]s.<ref name=cyient-ink>{{cite news |date=February 23, 2017 |title=Cyient, ANSYS ink MoU |url=http://www.thehindu.com/todays-paper/tp-national/tp-telangana/cyient-ansys-ink-mou/article17351407.ece | work=[[The Hindu]] |location=[[India]] |access-date=February 28, 2017 }}</ref>
With its United States headquarters in the state of [[Connecticut]],<ref name=seay-gregory/> 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.<ref name=seay-gregory>{{cite news |last=Seay |first=Gregory |date=February 2, 2017 |title=With CT's $500K, Cyient to expand, add jobs |url=http://www.hartfordbusiness.com/article/20170202/NEWS01/170209960 |work=Hartford Business |location=[[Hartford, Connecticut]] |access-date=February 28, 2017 |archive-date=8 May 2019 |archive-url=https://web.archive.org/web/20190508151834/http://www.hartfordbusiness.com/article/20170202/NEWS01/170209960 |url-status=dead }}</ref>
==See also==
{{Portal|India}}
*[[List of companies of India]]
*[[List of Indian IT companies]]
*[[Software industry in Telangana]]
*[[Information technology in India]]
*[[Electronics and semiconductor manufacturing industry in India]]
==References==
{{Reflist|2}}
==External links==
* {{official website|http://www.cyient.com}}
[[Category:Multinational companies headquartered in India]]
[[Category:Companies based in Hyderabad, India]]
[[Category:Outsourcing]]
[[Category:Outsourcing in India]]
[[Category:Software companies established in 1991]]
[[Category:Software companies of India]]
[[Category:Engineering companies of India]]
[[Category:International information technology consulting firms]]
[[Category:Information technology consulting firms of India]]
[[Category:Outsourcing companies]]
[[Category:Indian brands]]
[[Category:Indian companies established in 1991]]
[[Category:1997 establishments in Andhra Pradesh]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]