Cyient acquires AnSem to enhance EU presence

Cyient Europe Limited, UK, a step-down subsidiary of Cyient, has signed a definitive agreement to acquire 100 per cent equity in AnSem NV, Belgium. This acquisition will allow Cyient to offer turnkey ICs, starting from concept circuit to final production.

The main purpose behind this acquisition is acquiring analog design capability, strengthening European presence and accelerating path towards building end to end solution for Cyient's other businesses including Medical and Industrial.

AnSem is a leading fabless, custom analog and mixed-signal application-specific integrated circuits (ASICs) design company.

Cyient has recently announced its result for Q4FY18. It has reported around 12.8 per cent yoy jump in Q4FY18. Whereas in terms of bottomline, it has delivered massive jump by 57.2 per cent yoy.

On Thursday, the stock opened at Rs. 740 and made 52-week high of Rs. 779.45 and finally closed at Rs. 763, on the BSE.