Cyient Europe Limited (“Cyient”), a wholly owned subsidiary of Cyient Limited, announced today the acquisition of BlomAerofilms Ltd (“Blom”) as a new subsidiary with 100% ownership of shares. Blom’s long and well established reputation for providing high quality data acquisition will be key to growing Cyient’s capabilities and achieving our growth plans.
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 a 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.
The business acquired will continue to trade as BlomAerofilms Ltd until 1st January 2017, after which it will be known as a Cyient company. On 1st April, 2017, the business will be fully integrated into Cyient Europe Ltd.
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.”
Cyient had earlier announced a definitive agreement to acquire BlomAerofilms on the November 7, 2016.