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The publicly-held Axis IT&T, a focused engineering services provider, has finally merged Cades, another specialised company which it had earlier acquired a few year ago. The combined entity will be known as ‘AxisCades’.
The unified brand will create differentiator in the marketplace in providing technology solutions, addressing the business needs across domains, at every stage of product lifecycle development. The brand aims to develop expertise in futuristic technology trends in the niche domains of its solutions offerings.
“Over the past 6+ years, the individual entities — Axis IT&T and Cades — are engaged in providing engineering and strategic technology solutions to heavy engineering, aerospace, defence and automotive sector globally. The combined revenues had grown manifold from about $4 million and 50 people to $100 million (CAGR of 66 per cent) with 1,600 people employed across 12 development centres globally. Today we have an impressive list of customer base including six marquee global OEMs who are leaders in their respective businesses,” Sudhakar Gande, vice-chairman, AxisCades, told Business Standard in an exclusive interview.
According to information from senior industry sources, AxisCades works closely with Airbus, Bombardier, Caterpillar, Mercedes Benz amongst others.
AxisCades, as part of its growth strategy plans to invest about $50 million over the next three to five years in capacity building, expand technology offerings and provide integrated product development solutions meeting customer business needs. The company will continue to actively pursue inorganic growth opportunities to grow their service offerings manifold as in the past.
The company has parallely started an internal initiative to deliver on the brand promise: Axcelerate — a strategic identity to deliver and achieve solution approach and consistency.
“The core of this approach is to deploy proprietary business methodology and transform the AxisCades brand to proactively deliver value to its key stakeholders — employees, customers and investors,” said Valmeekanathan, CEO, AxisCades Engineering Services.
The company plans to take its Offshore Development Centre model to set up innovation labs for engineering services in specific identified technologies like composite, manufacturing engineering and interiors.
