AXISCADES to acquire US-based ITSJ business for up to $7M for AI hardware supply chain
AXISCADES' XIDA will acquire ITSJ Group's business assets for up to US$ 7 million (₹67 crore). The deal includes US$ 2.5 million cash, XIDA shares, and a US$ 2 million earn-out. This acquisition provides XIDA with a Silicon Valley base and supplier positions in AI hardware, semiconductor equipment, and data-centre infrastructure.
This acquisition is highly impactful as it provides AXISCADES with a direct entry into the high-growth AI hardware market, specifically in semiconductor equipment and data-center infrastructure, through established supplier relationships and a US operational base. The strategic importance of these sectors for future growth justifies a high impact assessment.
The acquisition of ITSJ by XIDA is a strategic move that expands AXISCADES' presence in the critical AI hardware supply chain, securing immediate supplier positions with leading companies and a valuable US-based operational platform. The terms are performance-linked and include a significant portion in XIDA shares, indicating confidence in future growth.
AXISCADES Technologies Limited announced that its Board of Directors has approved the acquisition of substantially all business assets of ITSJ Group, Inc. (“ITSJ”), a San Jose-based precision engineering and electronics manufacturer, by XIDA Inc. (“XIDA”), AXISCADES' US AI-infrastructure company. The transaction, approved on October 14, 2026, provides XIDA with an operating base in Silicon Valley and direct supplier positions in semiconductor equipment and data-centre infrastructure, key areas of AI hardware.
ITSJ, founded in 2023, is a qualified supplier of sub-assemblies for semiconductor capital equipment and data-centre cooling and infrastructure systems, serving two of the world's top-five semiconductor-equipment manufacturers and a leading hyperscale data-centre operator. The acquisition grants XIDA immediate access to these customer relationships and a design-to-build capability in San Jose, including precision machining, PCB design and assembly, cable and box build, and full system integration.
The consideration for the acquisition is up to US$ 7.0 million (approximately ₹67 crore). This includes US$ 2.5 million in cash at completion, with the balance paid in XIDA shares vesting over 30 months and an earn-out of up to US$ 2.0 million tied to customer, revenue, and margin milestones. As an asset purchase, ITSJ’s legacy liabilities remain with the seller.
This move is expected to strengthen XIDA’s global delivery capabilities by creating a diversified delivery model combining a US front end with Indian engineering capabilities, enhancing resilience to tariffs and evolving global trade dynamics. Dr. S. Ravi Narayanan, Chairman, AXISCADES Technologies, stated that ITSJ serves as XIDA’s gateway to both chip-making tools and data centres, securing supplier positions in Silicon Valley from day one.
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AXISCADES Technologies Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by AXISCADES Technologies Limited. Read the original for the full detail.