Key Highlights
- AXISCADES Technologies Limited completed the acquisition of a 90% stake in Cloud Wave Technologies Private Limited.
- The company also acquired indirect 90% stakes in Cloud Wave’s wholly owned subsidiaries, Prothubs System Solutions Private Limited and Aureate Polymet Private Limited.
- The acquisition was completed on September 10, 2026.
- The transaction involves cash consideration of Rs 234 crore, subject to post-closing adjustments.
- The enterprise value of the transaction is approximately Rs 260 crore.
- Cloud Wave reported audited FY 2025-26 turnover of Rs 107.78 crore.
- Prothubs and Aureate reported FY 2025-26 turnover of Rs 6.54 crore and Rs 6.99 crore, respectively.
- The acquisition is aimed at strengthening AXISCADES’ aerospace manufacturing capabilities and expanding integrated engineering-plus-manufacturing solutions.
- Cloud Wave, Prothubs and Aureate have become step-down subsidiaries of AXISCADES.
- AXISCADES may subsequently acquire the remaining 10% shareholding in Cloud Wave, subject to the transaction documents.
AXISCADES Technologies Limited has completed the acquisition of a 90% stake in Cloud Wave Technologies Private Limited, along with indirect acquisitions of 90% stakes in its wholly owned subsidiaries Prothubs System Solutions Private Limited and Aureate Polymet Private Limited.
Bengaluru-based engineering and technology company AXISCADES Technologies Limited has completed the acquisition of 90% of the share capital of Cloud Wave Technologies Private Limited (Cloud Wave), marking another step in its strategy to expand its manufacturing capabilities and strengthen its aerospace and defence offerings.
According to the company’s regulatory filing dated September 11, 2026, AXISCADES executed the Share Purchase Agreement with Cloud Wave, Prothubs System Solutions, Aureate Polymet and the respective sellers on September 10, 2026.
The transaction involves the acquisition of 90% of Cloud Wave and an indirect 90% interest in its wholly owned subsidiaries, Prothubs and Aureate, for a cash consideration of Rs 234 crore, subject to post-closing adjustments. The enterprise value of the transaction is approximately Rs 260 crore.
Acquisition strengthens manufacturing capabilities
Cloud Wave is an AS9100D-certified precision manufacturing company headquartered in Bengaluru. Its operations include precision machining, sheet-metal fabrication and stamping, plastic injection moulding, plastic 3D printing, surface treatment and wire harness manufacturing.
The company serves customers across the aerospace, defence, semiconductor and medical sectors, with its customer base also extending to export markets.
For FY 2025-26, Cloud Wave reported audited turnover of Rs 107.78 crore, compared with Rs 68.25 crore in FY 2024-25 and Rs 36.98 crore in FY 2023-24.
AXISCADES said the acquisition is part of its strategic plan to transition from an engineering-services-led business model towards aerospace manufacturing, complementing its existing Aerospace, Defence and Electronics/Semiconductor businesses.
The company expects the acquisition to enable it to offer integrated engineering and manufacturing solutions to existing aerospace, defence and OEM/Tier-1 customers.
It also intends to establish a physical manufacturing platform that can be scaled into a larger Centre of Aerospace Manufacturing, positioning the company to support large-scale global OEM manufacturing programmes.
Prothubs and Aureate become subsidiaries
Following completion of the transaction and other closing conditions, Cloud Wave, Prothubs and Aureate have become step-down subsidiaries of AXISCADES.
Prothubs, incorporated in 2025 and headquartered in Bengaluru, operates in prototyping and manufacturing. Its capabilities include additive manufacturing, vacuum casting, surface finishing and mechanical kit assembly, with applications across aerospace, defence, automotive, medical, consumer goods and industrial manufacturing.
Aureate, incorporated in 2025 and also headquartered in Bengaluru, operates in precision tooling, plastic injection moulding and die casting. The company has an in-house mould design team and develops customer-specific designs.
For FY 2025-26, Prothubs reported audited turnover of Rs 6.54 crore, while Aureate reported audited turnover of Rs 6.99 crore.
Remaining 10% stake
AXISCADES has acquired 90% of Cloud Wave’s share capital as part of the completed transaction. The company stated that the remaining 10% shareholding in Cloud Wave may subsequently be acquired by AXISCADES, subject to the terms and conditions set out under the transaction documents.
The acquisition was completed on September 10, 2026, following execution of the relevant transaction documents.
AXISCADES said the acquisitions are not expected to adversely affect its existing business operations and are expected to be earnings accretive over the medium term, subject to completion of the transaction on the agreed terms.