Cyient sells 49% stake in IASI to Pratt & Whitney
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Cyient Limited has signed an agreement to divest its 49 per cent equity ownership in Infotech Aerospace Services, Inc (IASI) to Pratt & Whitney, a division of United Technologies Corporation.
IASI, a 51:49 joint venture between Pratt & Whitney and Cyient, provides aerospace defense design, development, and related services, primarily to United Technologies and its business units.
The transaction would be EPS neutral. The closing of the transaction is subject to regulatory approvals and customary closing conditions, Cyient said in a statement here on Thursday.
Cyient is a global provider of engineering, manufacturing, geospatial, network and operations management services to global industry leaders.