In July 2017, Trendlyne had written about the rise of the midcap company in Indian IT - even as India's large IT majors have been searching for growth avenues at a time of stress in client expansion and acquisition, mid-tier IT companies like Cyient has been bullish about FY18, with company management saying that it is seeing substantial order bookings.
Cyient operates in the under-tapped ER&D outsourcing market, and its core businesses, aerospace and defence, have seen strong YoY growth in Q1 and Q2. The company acquired geospatial services provider BlomAerofilms last year to boost its services in the aerospace sector.
Now, Cyient and UK-based EA Technology have entered into a global alliance in order to chase global opportunities with a focus on electric utilities. Under the agreement, Cyient will provide project delivery and implementation services for EA Technology’s Asset Investment Management (AIM) solution. EA Technology focuses in electrical asset management in the global electric utility market. Cyient's share price is up on the news.