Axiscades Technologies Ltd has approved the acquisition of a majority stake in Bengaluru-based precision engineering and manufacturing company Cloud Wave Technologies Pvt Ltd at an enterprise valuation of approximately ₹260 crore.
The transaction is aimed at accelerating Axiscades’ expansion in aerospace manufacturing by adding operational precision-manufacturing capabilities to its existing product-based aerospace, defence and electronics businesses.
Founded in 2014, Cloud Wave operates seven manufacturing units in Bengaluru, with capabilities spanning precision machining, sheet metal fabrication, tooling, plastic injection moulding, 3D printing and surface treatment.
Its customer base includes companies in the aerospace & defence and semiconductor sectors, across domestic and export markets. The company has been growing consistently and is expected to post ₹180 crore in revenue with a 22% EBITDA margin in FY27.
Strengthening aerospace manufacturing
The acquisition is a key inorganic initiative under Axiscades’ Power 930 growth plan, which focuses on expanding the company’s presence in aerospace manufacturing.
Axiscades is also developing a 240,000 sq ft Centre for Advanced Manufacturing (CAM) at its 20-acre campus in the Devanahalli Aerospace Park. The facility is being designed as a world-class manufacturing centre to consolidate and scale operations, supported by specialised talent and capabilities aimed at serving global OEMs.
The company said it will continue to evaluate selective inorganic opportunities that can deepen manufacturing capabilities, expand technology access and strengthen its proximity to customers in the US and European markets.
“This is a defining step for Axiscades. We are leveraging two decades of our engineering and manufacturing legacy to become a significant player in the aerospace manufacturing supply chain ecosystem, addressing a real capability and capacity gap in India, collaborating with existing Tier 1 and Tier 2 suppliers, and serving our global customers,” said Axiscades Technologies Ltd, Deputy CEO & President, Aerospace, K P Mohanakrishnan.
He said the platform would continue to expand its existing customer base while meeting Axiscades’ internal metallic manufacturing requirements across defence and electronics.
The acquisition, he added, would also position the company to bid for domestic programmes with organisations including ADA, HAL and DRDO.
Cloud Wave to gain scale
For Cloud Wave, the transaction is expected to provide greater scale, access to a broader customer base and long-term capital to accelerate its expansion.
“Joining the Axiscades Group marks an important milestone in Cloud Wave’s growth journey. It provides us with greater scale, access to a broader customer base and the long-term capital required to accelerate our ambitions,” said Cloud Wave Technologies Pvt Ltd, Founder & CEO, Satishkumar P.
He said Cloud Wave had built precision-manufacturing capabilities over the past decade that are trusted by global aerospace and semiconductor customers.
The acquisition will bring these capabilities into a listed aerospace and defence platform, potentially enabling Cloud Wave to expand its manufacturing footprint and customer reach.
Building an integrated manufacturing platform
The acquisition, together with the upcoming CAM facility, is expected to strengthen Axiscades’ ability to offer integrated engineering and manufacturing capabilities to aerospace and defence customers.
The company is seeking to build a larger manufacturing platform capable of supporting domestic programmes as well as global OEM requirements, while leveraging India’s growing role in global aerospace and advanced manufacturing supply chains.