Cyient, a global provider of engineering, manufacturing, geospatial, networks, digital solutions, and operations management services to global industry leaders, has been positioned as a Major Contender in the Everest Group Verification & Validation Services PEAK Matrix™ Assessment 2018. This is the first time that the Everest Group, a leading consulting and research firm, has applied the PEAK Matrix methodology to the V&V engineering services marketplace.
The PEAK Matrix TM Assessment 2018 used an objective, data-driven, and comparative assessment of 14 global services providers in the engineering V&V space across embedded, software, hardware, and networks. The PEAK Matrix™ classifies services providers on "Vision and Capability" and "Market Impact." The research also took into account Cyient's overall V&V capabilities stemming from the acquisition ofCERTON Inc., a company with extensive experience and proprietary tools for complex V&V activities, and key industry-oriented V&V applications for the aerospace, rail transportation, medical technology, industrial, energy, and mining industries.
Cyient scored particularly well on the "Vision and Capability" front showcased through the company's strategy to shift from services to solutions, the breadth of its V&V services including proprietary tools and service function types, and smart investments toward both organic and inorganic growth.
Commenting on the achievement, Krishna Bodanapu, Managing Director and CEO, Cyient, said, "Cyient is proud to be recognized as a "Major Contender" in the Verification & Validation engineering space by Everest Group. This is not only a testament to our focus on delivering industry-leading and client-centric solutions, but also a validation of our strategic investment in the space."
V&V is becoming increasingly critical in the engineering services outsourcing industry. Smart, connected products and shifting business models are compelling global organizations across industries to reinvent their traditional product quality assurance processes. Key components of V&V including testing-as-a-service, test automation, and mission-critical certifications, delivered in a technology-driven, scalable, and agile manner, have become critical for enterprises to ensure superior product quality and differentiated client experiences. This shift has led enterprises to look toward engineering services providers to transform their V&V function.
Cyient has more than 400 associates working on the V&V services that contribute significantly to the overall revenues of the company. Evenly spread between hardware, software, and embedded V&V services, Cyient offers V&V across industries including manufacturing, healthcare, electronics and hi-tech, transportation, and energy. With the acquisition of CERTON, Cyient has emerged as a serious player in the testing and certification of mission-critical engineering applications, especially in aerospace.
Shares of Cyient Limited was last trading in BSE at Rs.788.9 as compared to the previous close of Rs. 800.1. The total number of shares traded during the day was 24465 in over 1260 trades.
The stock hit an intraday high of Rs. 821 and intraday low of 761.4. The net turnover during the day was Rs. 19201723.