Cyient acquires UK-based geospatial firm Blom Aerofilms
1 min read . Updated: 07 Nov 2016, 11:16 AM IST
PremiumThe financial details of the deal were not disclosed
Hyderabad: Cyient Ltd (formerly Infotech Enterprises Ltd) on Monday said it has signed a definitive agreement to acquire UK-based geospatial services provider Blom Aerofilms Ltd, in an all-cash transaction.
“Cyient Europe Ltd, UK, a wholly-owned subsidiary of the company, has signed a definitive agreement to acquire 100% equity in Blom Aerofilms Ltd, Cheddar, Somerset, England," the company said in a statement.
The financial details of the deal were not disclosed.
Blom Aerofilms is one of the largest providers of aerial imagery and geospatial data based in the UK. The company uses a versatile fleet of aircraft and scanners to capture oblique and vertical aerial photography and topographic survey data using LiDAR. Blom uses this information to produce a range of data sets, such as 3D models and vector mapping, for local and regional government, transport, infrastructure, engineering and environmental industry sectors.
Hyderabad-based Cyient provides engineering services to companies in aerospace, consumer, energy, medical, oil and gas, mining, heavy equipment, semi-conductor, rail transportation, and utilities and communications sectors.
The acquisition positions Cyient to expand into geospatial services, where it is already present.
Shares of Cyient rose 0.11% and were trading at ₹ 465.75 on the BSE at 10.35am, while the benchmark Sensex gained 0.92% to 27,525.21 points.
