Cyient made its largest acquisition ever with Citec. Citec is headquartered in Vasa, Finland. The company provides primarily power plant engineering services.

Cyient made its largest acquisition ever with Citec. Citec is headquartered in Vasa, Finland. The company provides primarily power plant engineering services.
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Modis came into the light two weeks ago when Adecco announced the acquisition of Akka. Modis is a decently large IT services firm with 2020 revenues of EUR 2,179m. It is little-profitable with an adjusted EBITA margin of 5.7% (2019: 6.3%). Like everyone, the company faced headwinds in 2020, with revenues down 9% in 2020 (2019: -3%).
It has been five years since Sweco made its last significant acquisition. In 2015, the company took over Grontmij, which brought 6,000 employees and revenues of EUR 659m.
ER&D vendors continue to be very active in M&As, with many tuck-in acquisitions. AFRY is now in full acquisition mode with six transactions in 2021 YTD. Competitor Sweco has also accelerated with four transactions. Accenture has made an unusual transaction by taking over a manufacturer of industrial automation and robots in Brazil for Accenture Industry X. Finally, Cognizant acquired a significant German automotive ER&D vendor, ESG.