Cyient, an engineering, network and operations solutions company, announced Thursday it has signed a definitive agreement to acquire a majority stake in Invati Insights (Invati), a start-up data sciences company. The new entity is proposed to be renamed Cyient Insights to better reflect brand and market aspirations.

The blend of Invati's data sciences core competence and Cyient's domain expertise creates an integrated consulting, solutions and systems integration portfolio for a number of industries including aerospace, utilities, communications, transportation, energy, and oil and gas. Cyient Insights will focus on analytics aligned to engineering, networks and operations across these verticals.

"Invati's data sciences credentials and analytics solution frameworks align very well with the expectations of our markets and customers," said N J Joseph, Senior Vice President & Head of Strategy & Planning, 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 and his team to achieve them."

"We are at an intersection where engineering and data sciences collide to create innovation," said Sesha Modukuru, CEO Invati Insights. "Today more and more executives are depending on advanced analytics for relevant, trustworthy and actionable insights.  We are very excited to partner with Cyient to provide these unique value-added services to our esteemed customers."

Shares of the company declined Rs 15.8, or 3.74%, to trade at Rs 407. The total volume of shares traded was 8,377 at the BSE (2.27 p.m., Friday).