India's Cyient acquires start-up Invati in IoT move
August 27, 2014
India’s Cyient is to acquire a majority stake in start-up data sciences company Invati Insights to strengthen its portfolio of Internet of Things (IoT) offerings targeting the aerospace, utilities, communications, transportation, energy and oil and gas industries.
Invati (Hyderabad, India) is to be renamed Cyient Insights to align it with Cyient’s branding and “market aspirations”.
The start-up specializes in developing data analytics services, while Hyderabad-headquartered Cyient sells engineering, network and operations solutions to a wide variety of organizations across sectors that include transportation and energy.
Cyient believes the company will bolster its data analytics capabilities and offerings and help it develop analytics-based IoT services targeting numerous key industry verticals.
“Invati’s data sciences credentials and analytics solution frameworks align very well with the expectations of our markets and customers,” said NJ Joseph, the senior vice president and head of strategy and planning for Cyient. “I am excited about the shared focus, objectives and vision for data analytics that underpin Cyient Insights and look forward to working with Sesha [Modukuru, Invati’s chief executive] and his team to achieve them.”
Invati says its takeover by Cyient reflects the convergence of engineering and data sciences “to create innovation”.
“Today more and more executives are depending on advanced analytics for relevant, trustworthy and actionable insights,” said Modukuru. “We are very excited to partner with Cyient to provide these unique value-added services to our esteemed customers.”