AXISCADES completes 90% acquisition of Cloud Wave Tech for INR 234 cr

AXISCADES Technologies has completed acquiring 90% of Cloud Wave Technologies (and indirectly its two subsidiaries Protohubs and Aureate) for INR 234 crores cash at an enterprise value of about INR 260 crores. Cloud Wave is an AS9100D-certified precision manufacturer with 7 units, FY26 turnover of INR 107.78 crores, up from INR 36.98 cr in FY24. The deal supports AXISCADES's shift from engineering services into aerospace manufacturing, and is expected to be earnings accretive over the medium term. Remaining 10% may be acquired later.