Cyient Limited Acquires Abu Dhabi-based Computer Est. for USD 1.9 Mn

Cyient Limited, a Hyderabad-based technology consulting and digital services provider, has announced the acquisition of Computer Est., an Abu Dhabi-based company in the same sector. The acquisition was made through Cyient's wholly owned subsidiary, Cyient Project Management Consultancy - L.L.C in Abu Dhabi. The deal was signed on a Debt Free, Cash free basis, with an upfront payment of USD 1.5 Mn and an Earnout of USD 0.4 Mn upon 100% achievement of the business case. The acquisition is expected to be completed by November 30, 2024, and it aligns with Cyient's strategic roadmap to expand its global footprint and strengthen its presence in the Middle East, one of the largest energy markets.