Cyient, an engineering, network and operations solutions company, has signed a definitvie agreement to acquire 74% equity stake in Rangsons Electronics. The acquisition positions Cyient strongly to expand into high-technology and high-value, design-led systems and solutions in line with the company's S3 (services, sustems and solutions) strategy.

Rangsons Electronics is a well-established ESDM and systems integration vendor with over two decades of experience in developing highly complex systems. The company is a qualified supplier to global OEMs across defense and aerospace, medical, automotive, telecommunications, and industrial segments. Rangsons Electronics has world-class production facilities, and provides services from design-to-production and end-of-life support. This also encompasses strong capabilities in managing new product introduction cycles, including prototyping, certification and vendor management.

Krishna Bodanapu, managing director & CEO, Cyient said, ''With its strong domain expertise coupled with a comprehensive solution portfolio, industry-relevant processes, certifications, and global customers, Rangsons Electronics fits extremely well in Cyient’s business. The new relationship will help Cyient expand its core business while deepening partnerships with OEM customers. I look forward to working closely with the Rangsons team to achieve the maximum synergy from this acquisition, and believe that this will make our offerings even more attractive to our customers.''

The acquisition will also help Cyient to position itself as a strong offset partner. Further, integrated end-to-end capabilities would strengthen the company's contribution to the 'Make in India' program announced recently by the union government.

Shares of the company gained Rs 1.75, or 0.34%, to trade at Rs 518.80. The total volume of shares traded was 57,606 at the BSE (11.44 a.m., Friday).