Axiscades Acquires Epcogen for Rs 26 Crore – News18

Axiscades Technologies (Axiscades) on Wednesday mentioned it has acquired 100 per cent stake in Hyderabad-based Epcogen. Epcogen specialises in engineering design and offering options for the vitality sector, Axiscades mentioned in an announcement. Axiscades has acquired Epcogen for Rs 26.25 crore to fortify its place within the vitality markets of the Middle East and North America, it mentioned.

“This acquisition marks a pivotal moment for both companies. Axiscades acquiring Epcogen at Rs 26.25 crore, with an additional 3-year earn-out of Rs 7 crore based on performance. The move underscores the company’s commitment to driving engineering excellence and innovation in the energy sector,” the assertion mentioned.

Axiscades CEO and MD Arun Krishnamurthi mentioned Epcogen has vital operations within the North American and Middle East geographies.

“This strategic move not only augments our competency but also propels our expansion as a service provider into the global energy industries,” he mentioned.

Bengaluru-based Axiscades is a number one finish-to-finish engineering and know-how options supplier, catering to sectors equivalent to aerospace, defence, heavy engineering, automotive and vitality, amongst others. It additionally offers engineering providers for product design for all plane programmes of world aerospace chief Airbus.

(This story has not been edited by News18 employees and is printed from a syndicated information company feed – PTI)