Hyderabad-based Infotech Enterprises had re-branded itself as Cyient Limited. The 22-year-old engineering services company has also earmarked an amount of $ 3 million (around Rs 18 crore) on brand building. Infotech’s board approved the new name two months ago and obtained shareholders’ consent through postal ballot. The company had roped in global brand agency Wolff Olins to develop Cyient brand logo, website and marketing materials.
“We are now Cyient,” executive chairman, BVR Mohan Reddy, said formally launching the new brand on Wednesday. According to him, the original name is more generic in nature and the new brand identity is an important step in positioning the enterprise as a unique global company that represented its vision and forward looking initiatives.
"We originally intended to simply update our brand equity. As we developed the rationale, we realised an entirely new name would help to better our evolution, our current scope of capabilities and accomplishments, and signal our future growth plans to all our stakeholders", Reddy said.
Replying to a query, he said, the company might take more time than the earlier set target of 2016 to emerge as $1 billion enterprise.
In 2013-14, the company's posted an income of Rs 1,224 crore and a net profit of Rs 255 crore.
