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Informist, Friday, Sept. 4, 2026

 

MUMBAI – Cyient Ltd. has successfully completed the acquisition of a 100% stake in US-based digital engineering firm Tao Digital Solutions Inc., the company said in an exchange filing Friday.

 

Cyient originally signed the agreement to acquire the stake in the digital solutions firm for an enterprise value of $218 million (around INR 20.60 billion) in an all-cash deal in May. The company closed the transaction ahead of its Sept. 30 deadline after receiving formal clearance on Aug. 24 from the Competition Commission of India to acquire the company.

 

For the June quarter, Cyient had reported consolidated net profit of INR 1.04 billion on revenues of INR 20.76 billion. Friday, the company's shares ended at INR 1,101.80 on the National Stock Exchange, down 0.9% from the previous close.  End

 

US$1 = INR 94.49

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Diksha Singh

Edited by Saji George Titus

 

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