Bengaluru, December 23, 2022: AXISCADES Technologies Ltd., a leading end-to-end technology and engineering solutions company announced today that it has completed the acquisition of Mistral Solutions Private Ltd., 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 INR 296 crores.
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. Mistral is a perfect complement to AXISCADES’ portfolio, and with the resulting synergies, the Company unlocks diversified opportunities and foresees significant upside to both revenue and margins. 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.
Commenting on the acquisition Mr. David Bradley, Chairman of AXISCADES Technologies Ltd. Said, “We are delighted with the completion of Mistral acquisition, which is one of the industry leaders, with exceptional competencies in the semiconductor industry and a recognized defence player, operating for more than 25 years. 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.”
Mr. Arun Krishnamurthi, CEO and MD of AXISCADES Technologies Limited, commenting on the strategic benefits of the acquisition further adds, “Our vision aligns with the government’s initiatives of Make-In-India and Atmanirbhar Bharat that boost technology driven infrastructure and defence indigenization in the country. AXISCADES, is already a preferred partner for the defence industry. 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.”
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 organization to take advantage of new opportunities in ER&D industry and contribute to usher in an era of a self-sufficient India.
Pic source: Branding Edge