AXISCADES to acquire Mistral

AXISCADES, India’s leading Product Engineering Solutions Company, is planning to acquire Mistral, a Bengaluru-based specialised embedded technology company. The acquisition to be completed in a phased manner will add significantly to AXISCADES’ embedded practice and Make-in-India opportunities. Mistral was co-founded by Anees Ahmed and Rajeev Ramachandra in 1997 as a niche technology company and recorded INR 132 crore in revenue last year. Sudhakar Gande, Vice Chairman, AXISCADES said, “This acquisition of Mistral helps us to be a significant player in the Defence Offset and digital technologies. The synergy between AXISCADES and Mistral offers both the parties, impetus to create IP’s, broadening service offerings leading to substantial business growth. This acquisition is EPS accretive.”