AXISCADES to acquire majority stake in Cloud Wave Technologies

AXISCADES Technologies that its Board of Directors has approved the acquisition of a majority stake in Cloud Wave Technologies (Cloud Wave), a Bengaluru-based precision engineering and manufacturing company at an enterprise valuation of approximately Rs 260 crore (subject to the finalization of accounts and adjustments as set out under the definitive agreements).

The transaction marks a significant step in AXISCADES' strategy to accelerate the scale-up of its Aerospace Manufacturing platform and add immediately operational precision-manufacturing capabilities alongside its established, product-based Aerospace, Defence and Electronics businesses.

Founded in 2014 and headquartered in Bengaluru, Cloud Wave is an AS9100D-certified manufacturer operating seven manufacturing units, providing precision machining, sheet metal fabrication, tooling, plastic injection moulding, 3D printing & surface treatment capabilities. Its customer base spans the Aerospace & Defence and Semiconductor sectors across both domestic and export markets. The company has been consistently growing over the years and is expected to generate 180cr revenue at 22% EBITDA in FY27.