AXISCADES to acquire 90% of Cloud Wave for ₹234 Crore, expanding manufacturing capabilities.
AXISCADES will acquire 90% of Cloud Wave Technologies for ₹234 Crore. Cloud Wave is a precision manufacturing company with ₹107.78 Cr audited turnover in FY25-26. The acquisition is expected to be completed by September 30, 2026, and is a strategic move to build owned manufacturing capacity.
The acquisition represents a significant strategic shift for AXISCADES, moving into manufacturing and expanding its service offerings, which is likely to have a substantial impact on its future growth and market position.
The acquisition is a strategic move to expand manufacturing capabilities and diversify the business model, which is expected to be earnings accretive.
AXISCADES Technologies Limited announced today, August 28, 2026, that its Board of Directors has approved the acquisition of 90% of the equity share capital of Cloud Wave Technologies Private Limited for a cash consideration of approximately ₹234 Crores. The enterprise valuation for Cloud Wave is approximately ₹260 Crores, subject to final adjustments.
Cloud Wave, a Bengaluru-based AS9100D-certified precision manufacturing company, operates seven manufacturing units and serves the Aerospace & Defence and Semiconductor sectors. This strategic acquisition aims to transition AXISCADES from an engineering services-led model to one that includes owned manufacturing capabilities, complementing its existing offerings and enabling integrated engineering-plus-manufacturing solutions.
The company expects to acquire the 90% stake by September 30, 2026. The remaining 10% stake in Cloud Wave may be acquired subsequently under terms outlined in definitive agreements. AXISCADES' historical business has been in engineering design and services, while Cloud Wave's focus on manufacturing represents a strategic diversification.
A plain-language summary of a public exchange filing by AXISCADES Technologies Limited. Read the original for the full detail.