Cyient is in focus as the company recently acquired a Belgian semiconductor firm Ansem at $17 million. In an interview, Ajay Aggarwal, President & CFO of the company spoke at length about the acquisition and gave his outlook for the future.
Aggarwal said that we are excited about this acquisition and we have always articulated that our aspiration of scale and technology are very high in semiconductors, medicals and some other, so this is in line with what we have been articulating as our part of acquisition strategy.
“This acquisition will add another 2 percent or so of the revenue in the current year and it will margin accretive, earnings accretive but in the long-term it has extremely good potential,” he added.
“Our cash available on the balance sheet as per March 31st is about $170 million and this is after taking care of good set of dividends,” said Aggarwal.
Talking about acquisitions, he said we have a dedicated focus on acquisitions but I would not be able to comment whether something in few months but during the year and coming years we will see enhanced growth on top of our existing growth.