Australian mining consultancy IG Partners joins Cyient
Australian consulting firm IG Partners has joined Cyient, a global IT services firm with over 15,000 employees in 20 countries.
The move sees Integrated Global Partners (IG Partners) enter the next phase of its development, just seven years after the consultancy was launched by a group of former senior figures at BHP Billiton. From its base in Australia, IG Partners has worked with clients globally on services including organisation effectiveness, asset optimisation, operational excellence and value chain transformation.
The Melbourne-headquartered company is dedicated to clients in capital and labour intensive industries, including multiple Fortune 500 companies, with a specialisation in the mining industry.
According to Herman Kleynhans, Founder and Managing Partner of IG Partners, the joining of forces marks a “transformative moment” for the Australian business and its circa 60 partners, consultants and staff. “The combination of Cyient's leading engineering and technology solutions with IG Partner’s mining and utilities expertise better positions us to support value and productivity breakthroughs leveraging digital technologies.”
The move comes at a time of growing digitisation in the mining sector, with miners across all corners of the globe rushing to tap into the power of technology to unlock benefits across their value chain. A 2019 McKinsey & Company study found that digital-led improvements have the potential of slashing the industry’s cost base by up to 17% per year in 2025, which if realised, would then translate to an annual economic benefit of $370 billion.
“The synergies between Cyient’s proven digital transformation expertise and IG Partners’ industry expertise will enable us to help customers take advantage of the growing convergence of operational and information technologies,” said Kleynhans.
Operating alongside its engineering, manufacturing and geospatial divisions, Cyient’s digital unit specialises in emerging technologies including advanced analytics, internet of things, augmented & virtual reality, robotisation, connected equipment and predictive maintenance. The combined application of these technologies – collectively known as Industry 4.0 – is touted to disrupt the way mining assets are designed, executed and serviced.
“We see tremendous opportunities in supporting our customers with benefiting from Industry 4.0,” said Damien Brown, the Chief Executive Officer at IG Partners.
Meanwhile, for Cyient, the deal bolsters its business transformation capabilities in the mining industry and broader capital-intensive sector. Krishna Bodanapu, Chief Executive Officer at Cyient said: “Australia is a strategic region for Cyient’s growth, and the mining industry is an important focus industry.”
Nationally, the listed Indian-origin firm also works for clients in the oil and gas, rail, telecom, and utility industries.
The deal, which was advised on by SCD Advisory (sell-side M&A advisory), is subject to regulatory approvals. Following green light, Cyient will take full ownership of the global partnership.
