AXISCADES Technologies completes acquisition of Mistral Solutions for Rs296 crore

23 Dec 2022 , 01:40 PM

AXISCADES Technologies Ltd announced that it has completed the acquisition of Mistral Solutions Private Ltd., a leader in Semiconductor, Embedded Electronics, Defence and Product Engineering capabilities.

The acquisition was initiated in the year 2017 and was executed over 4 phases at an aggregate acquisition cost of Rs296 crore.

With 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.

The collaboration 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.

At around 1:33 PM, Axiscades Technologies was trading at Rs281.95 per share lower by 4.10% on the BSE.

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