Cyient Limited ("Cyient") through its wholly owned subsidiary Cyient Inc, has signed a definitive agreement to acquire 100% of the shares of Certon.
Based in Melbourne, Florida, USA, Certon is an IP led innovative provider of full product life-cycle engineering services to companies seeking certification approval for safety-critical systems, embedded software, and electronic hardware.
Incorporated in 2006, Certon employs a core team of around 45 people, with revenue at the current runrate of ~$6Mand sustainable low double digit EBITDA margins.
Certon also has strong Field Programmable Gate Array (FPGA) and System on Chip (SoC) full product life-cycle capabilities and continues to build IP tools for various portions of the avionics value chain, especially independent verification & validation (V&V). Through its differentiated automation platforms, Certon is able to provide significant cost and time to market benefits.
Certon also brings in a strong team of technical and domain experts in Avionics led by Timothy Stockton. This is Cyient's fifth acquisition in the last two and a half years as part of its Design-Build-Maintain strategy. Cyient has a strong cash position of $127M and will continue to look for acquisitions that will enable it to achieve itsgoal ofindustry-leading growth.
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