Global engineering firm Cyient has agreed to acquire the Australian mining consultancy IG Partners, in a move the company says will allow it to expand its offerings for the resources sector in Australia and across the region.
The acquisition of the Melbourne-based consulting group is aimed at further bolstering Cyient’s increasing footprint in Australia, providing solutions to the mining, oil and gas, rail, telecom, and utility industries.
“Mining is an important focus industry and Australia a strategic region for Cyient’s growth,” said Cyient’s MD and CEO, Krishna Bodanapu. “[The] Mining industry is getting transformed with convergence of digital technologies. With this investment, the powerful synergy of Cyient’s digital execution capabilities and IGP’s advisory expertise creates a unique value proposition for the industry.”
“This acquisition also adds to our footprint in Australia, which is an important region for our future growth,” he said.
IG Partners’ customers include large mining players comprising multiple Fortune 500 companies. The company was founded in 2012 by a team of former senior officials with BHP Billiton.
“In joining Cyient, we see tremendous synergies in supporting our customers’ benefit from Industry 4.0,” said Herman Kleynhans, Founder and Managing Partner of IG Partners. “The combination of Cyient’s leading engineering and technology solutions and IG Partner’s mining and utilities expertise uniquely positions us to support value and productivity breakthroughs leveraging digital technologies,” he said.
The terms of the deal have been kept under wraps pending regulatory approval.