CCI clears Cyient's proposal to acquire TAO Digital Solutions
The Competition Commission of India (CCI) on Tuesday cleared global engineering services provider Cyient's proposed acquisition of TAO Digital Solutions Inc.
The approval came after Hyderabad-based Cyient Ltd, in May this year, announced that it had entered into a definitive agreement to acquire TAO Digital Solutions Inc, an AI-native data and product engineering solutions firm.
"The proposed combination envisages the acquisition of 100 per cent of the share capital from the existing shareholders of TAO Digital Solutions Inc (target), by Cyient Ltd (acquirer)," the regulator said in a release.
"CCI approves the acquisition of 100 per cent of the share capital of Tao Digital Solutions Inc by Cyient Limited," the regulator said in a post on X.
Cyient Ltd is engaged in providing engineering and technology services specialising in aerospace and defence, automotive, rail transportation, healthcare and life sciences, semiconductors, energy, utilities, communications, and spatial ...
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