 "Axiscades Technologies acquires Hyderabad-based Epcogen for Rs 26 crore")
Axiscades Technologies (Axiscades) on Wednesday said it has acquired 100 per cent stake in Hyderabad-based Epcogen.
Epcogen specialises in engineering design and providing solutions for the energy sector, Axiscades said in a statement.
Axiscades has acquired Epcogen for Rs 26.25 crore to fortify its position in the energy markets of the Middle East and North America, it said.
"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 statement said.
Axiscades CEO and MD Arun Krishnamurthi said Epcogen has significant operations in 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 said.
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Bengaluru-based Axiscades is a leading end-to-end engineering and technology solutions provider, catering to sectors such as aerospace, defence, heavy engineering, automotive and energy, among others.
It also provides engineering services for product design for all aircraft programmes of global aerospace leader Airbus.
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