Zinnov serves as the exclusive Financial Advisor to Cyient in its acquisition of Celfinet

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Jun 07, 2022, 09:30 ET

NEW YORK, June 7, 2022 /PRNewswire/ -- Zinnov, a leading global management consulting and strategy advisory firm, acted as the exclusive financial advisor to Cyient, a leading consulting-led and industry-centric Global Technology Solutions company, in its acquisition of Celfinet. Headquartered in Lisbon, Portugal, Celfinet is an international Wireless Engineering Services company with a strong focus on providing end-to-end Network Planning and Performance Optimization services.

With this acquisition, Cyient strengthens its Wireless Engineering practice to support Communication Service Providers (CSPs) and Enterprises to deploy their pervasive connectivity networks at scale. This will also enable the company's Enterprise customers to build networks to harness the power of 5G and drive their own Digital Transformation journey. The addition will further strengthen Cyient's presence in Europe, where Celfinet has a strong footprint, and help scale Cyient's business across North America and Australia.

Anand Kalra, Principal at Zinnov, remarked, "The Wireless Engineering space has been seeing active M&A over the last few years as companies strive to build strong capabilities in modern technologies including 5G. We are proud to have advised Cyient's management on this highly strategic transaction that strengthens their capabilities in the wireless space, and also expands their presence in Europe and across the globe. We believe that the trend of acquiring wireless technology companies will prevail and we will continue to see more M&A by both large- and mid-sized companies in the next couple of years."

The transaction was announced at an Enterprise Value of EUR 41 Mn. Celfinet reported revenues of EUR 17.1 Mn in 2021 with EBIT margins of 21.1% – implying a multiple of 12X EV/EBIT.

Previously, Zinnov has served as the exclusive Financial Advisor for Intive's acquisition of SimTLiX.

About Zinnov

Founded in 2002, Zinnov is a global management and strategy consulting firm, with presence in New York, Santa Clara, Houston, Bangalore, Gurgaon, Paris, and Pune. Over the past 20 years, Zinnov has successfully consulted with over 250+ Fortune 500 enterprises and large and mid-market Private Equity funds to develop actionable insights that help them create value – across dimensions of both revenue and optimization. With core expertise in Digital Engineering, Mergers & Acquisitions, Digital Transformation, Innovation, Global Talent, and Outsourcing Advisory, Zinnov assists clients by:

Advising global PE firms and enterprises on asset shortlisting and target evaluation, commercial due diligence, and value creation.
Helping global companies outline and drive their open innovation programs, design and operate accelerator programs, and enable collaboration with start-ups across specific use cases and predefined outcomes.
Enabling global companies to develop and optimize a global engineering footprint through center setups, and technology and functional accelerators to achieve higher R&D efficiencies, innovation, and productivity.
Growing revenue for companies' products and services in newer markets through account intelligence, market entry, and market expansion advisory.
Structuring and implementing Digital Transformation levers enabled by technologies like AI/ML, Cloud, IOT, and RPA.

With their team of experienced consultants, subject matter experts, and research professionals, Zinnov serves clients from across multiple industry verticals including Enterprise Software, BFSI, Healthcare, Automotive, Retail, and Telecom in the US, Europe, Japan, and India.

For more information, visit http://zinnov.com.

SOURCE Zinnov