IT firm Cyient Ltd (formerly Infotech Enterprises) today said it has signed a definitive agreement to acquire a majority stake in Invati Insights Pvt Ltd, a data sciences start-up.
The new entity is proposed to be renamed Cyient Insights to better reflect brand and market aspirations, the city-based IT services provider said in a release here.
Financial details of the buyout were not disclosed.
Invati will strengthen Cyient's data analytics capabilities and offerings across a set of chosen industry verticals that continue to demonstrate strong appetite and spend, it said.
"Invati's data sciences credentials and analytics solution frameworks align very well with the expectations of our markets and customers," N J Joseph, Senior Vice-President & Head of Strategy & Planning, Cyient, said.
Sesha Modukuru, CEO of Invati Insights, said, "we are at an intersection where engineering and data sciences collide to create innovation. Today more and more executives are depending on advanced analytics for relevant, trustworthy and actionable insights.
"We are excited to partner with Cyient to provide these unique value-added services to our esteemed customers.
