Axiscades Technologies’ wholly owned subsidiary -- Axiscades GmbH has acquired 94% stake in add solution GmbH on August 17, 2023, upon payment of Phase I consideration of Euro 5 Million, in accordance with the Definitive Agreements. Subsequently, add solution GmbH has become a subsidiary of Axiscades GmbH and a step-down subsidiary of the company.
The acquisition will provide a strategic foothold to Axiscades in the Automotive space, besides opportunity for firm contracts with marquee automotive OEMs. This will lead to significant offshoring opportunities and enhanced business for Axiscades in the automotive space, both in India and globally.
Axiscades Technologies is a holistic technology and engineering solutions provider, with a footprint across the entire product lifecycle management needs of global OEMs and core engineering firms.
