Axiscades Technologies, a technology and engineering solutions company announced that it has completed the acquisition of Mistral Solutions, a leader in semiconductor, embedded electronics, Defence and Product Engineering capabilities.
The acquisition, which was initiated in the year 2017, was executed over 4 phases at an aggregate acquisition cost of Rs 296 crore.
With the completion of this acquisition, Axiscades strengthens its position as a technology leader, providing cutting-edge product design and development services to its customers for a wide range of applications.
The acquisition bolsters the company’s ability in the digital engineering, embedded electronics and systems engineering domains, enabling it to make an even bigger impact and add value to collective clients across industries and geographies.
David Bradley, Chairman of Axiscades Technologies
Bradley added “This partnership will enable us to build upon a complementary portfolio of offerings and allow us to scale-up our operations, while delivering innovative solutions to our customers.”
Arun Krishnamurthi, CEO and MD of Axiscades Technologies said, “The collaboration with Mistral will provide us a complementary customer base and opportunities to cross-sell and expand our product and service portfolio, along with the ability to offer our global clientele, latest technologies in embedded electronics and chip design.”
According to Axiscades, the alliance is anticipated to not only produce strong and consistent earnings and margin expansion for the combined enterprise, but it will also enable the organisation to take advantage of new opportunities in ER&D industry and contribute to usher in an era of a self-sufficient India.