Cyient to acquire TAO Digital Solutions in $218 million cash deal
Cyient, a global engineering company, just announced it is acquiring TAO Digital Solutions, a California-based digital engineering firm, for an implied enterprise value of $218 million in a cash deal with an upfront payment and a performance-linked earnout.
The deal includes an upfront payment and a performance-linked earnout. It still needs regulatory approval but is expected to close by Q2 FY27.
Cyient adds AI and product engineering
This move will level up Cyient's skills in artificial intelligence and digital product engineering: think smarter tech and better cloud apps.
It also means more reach in automotive, high-tech, and health-tech sectors across North America.
As Cyient CEO Sukamal Banerjee put it, strengthening Cyient's presence in automotive, hitech, and healthtech sectors, expanding its customer footprint in North America, and widening delivery reach across regions.
And for TAO Digital founder and CEO Rajkumar Velagapudi, joining Cyient "takes that to a new level."