The acquisition of Blom Aerofilms Ltd brings complimentary skills to strengthen Cyient’s end to end geospatial solutions in line with its S3 strategy.
Chandigarh, 7th November 2016 — Cyient India Limited (“Cyient”) through its wholly owned subsidiary Cyient Europe Limited, has signed a definitive agreement with Blom AS, Norway, a wholly owned subsidiary of NRC Group ASA, Norway to acquire 100% of the shares of Blom Aerofilms Ltd (“Blom”). Based in Cheddar, Somerset, UK, Blom is a leading provider of ground surveying, digital mapping, aerial photography and laser scanning solutions. Blom employs a core team of around 40 people, had CY15 revenue of ~£6M and sustainable EBITDA margin of ~10% with opportunities to bring in synergies on the back of a global delivery model. Blom’s presence in the UK can be traced back to 1919 when Aerofilms was founded as the UK’s first ever commercial aerial photography company. Over the subsequent decades the company has built up a wealth of experience and an impressive track record around all types of geospatial data acquisition and services, including aerial and ground-based LIDAR and data modelling.
John Renard, Cyient’s President EMEA and BU Head for Utilities & Geospatial commented, “Cyient is very proud of our geospatial capabilities around software and data processing. This acquisition complements these skills and also brings us industry-leading knowledge around data acquisition. We believe that by combining BlomAerofilms with Cyient’s geospatial business, Cyient will be well positioned as a complete service provider covering acquisition, modelling and processing services. This is very exciting for both our existing customers and prospects. In addition Cyient will look to extend these combined services into our other key markets such as Smart Cities, Utilities and Transportation. This marks a significant step forward for Cyient in shaping our vision for the future.”
The transaction is EPS accretive and expected to complete over the next 30 days.