Axis IT&T, a public held engineering software services firm owned by Rajya Sabha MP Rajeev Chandrasekhar, is understood to have signed an agreement to acquire Bangalore-based Cades Digitech, a niche product design and engineering software services firm. Industry sources close to Axis detail that the transaction is valued at close to Rs 75 crore. Axis is understood to be acquiring a 51 per cent control initially and will subsequently increase its stake to 100 per cent based on certain milestones.
Cades provides product design, Engineering and R&D services to aerospace, defense, automotive, transportation & energy sectors and has Infosys co-founder N S Raghavan's private equity fund as one of its major investors. Cades has more than 60 customers including the global clients like EADS / Airbus, Boeing, Fokker, Nissan, Volvo and Mercedes Benz.
The Cades team has Product Design & Development expertise that includes Design, Analysis, Simulation, Multi-body Dynamics, Virtual Prototyping & Testing, Manufacturing Engineering, Product Data Management and Technical Documentation. Industry estimates indicate that Cades has a topline close to Rs 50 crore and has projected to grow by around 20 per cent during 2009-10.
AXIS-IT&T is an engineering design service provider, with over twenty years experience in delivering Product Design, 3D Modelling, Detailing and Assembly, Finite Element Analysis, Reverse Engineering and Conversion of legacy drawings. With the move to acquire Cades, Axis gets niche expertise in aviation product design lifecycle
Axis IT&T is part of Rajeev Chandrasekhar's Jupiter Aviation which is working on building the entire value chain for aviation industry. Right from designing software for the aviation industry, Jupiter Aviation is putting through the links for aircraft maintenance, repair and overhaul, training and also building a aviation SEZ and an airport at Hassan district of Karnataka.
