Cyient Ltd signs definitive agreement to acquire 100% in WorkForce Delta

Cyient Ltd has signed a definitive agreement to acquire the 100% stake in WorkForce Delta (WFD), a global consultancy company.

The Enterprise value shall be payable as follows:

- Upfront USD 2.7 Million on a cash free and debt free basis

- Earn outs based on future performance

The acquisition will bolster the IntelliCyient portfolio by expanding its front-end consulting capabilities for digital mobile workforce management solutions. There has been a growing demand for comprehensive field force management solutions in the Utilities and Telecom industries. With rapid sectoral growth across regions, Cyient continues to invest in expanding its market presence while creating sustainable value for all stakeholders.

Workforce Delta Pty Ltd. Employs ~11 consultants. Revenue for 2021 is ~USD 2.9 Million.

Shares of Cyient Limited was last trading in BSE at Rs. 987.4 as compared to the previous close of Rs. 983.4. The total number of shares traded during the day was 8737 in over 1134 trades.

The stock hit an intraday high of Rs. 1002.25 and intraday low of 970.05. The net turnover during the day was Rs. 8592970.

Source : Equity Bulls

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