Axiscades Technologies (Axiscades), a leading end-to-end engineering and technology solutions provider has completed the acquisition of Germany-based add-solution.
The company specialises in automotive design and development with deep domain expertise in services such as electrical distribution system engineering, testing and software development, wiring systems, component engineering, and automation for global automotive OEMs. add-solution is said to have deep entrenched relationships with the world’s largest automotive OEM’s and tier 1’s.
With this transaction, Axiscades says it has strengthened its position in the automotive vertical and enhanced its presence in Germany, one of the biggest automotive markets in the world.
Arun Krishnamurthi, CEO and MD, Axiscades Technologies said, “Over the past few years, we have acquired businesses that have helped us expand into new segments and grow our market share. The acquisition of add-solution is another such move that will help us achieve our long-term vision of being the world’s leading engineering solutions provider.”
“This acquisition provides us with a strategic foothold in the automotive space, with significant offshoring opportunities and access to marquee global automotive OEMs. This advantage extends its relevance to both established legacy OEMs and emerging players in the electric vehicle (EV) domain since add-solution boasts a commendable track record in this domain of over 2 decades,” added Krishnamurthi.
Bernd Schober and Alexander Kellersman, Founders of add-solution said, “add-solution is a perfect complement to Axiscades’ portfolio, and with the resulting synergies we unlock diversified opportunities across the globe and foresee significant upside to both revenue and margins.”
Through this acquisition, Axiscades is said to solidify its global leadership in engineering and technology solutions in automotive.
