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AXISCADES Technologies Ltd approves acquisition of EPCOGEN Pvt Ltd

Oct 13, 2023

By: BlinkX Research Team

AXISCADES Technologies Limited's Board of Directors has given the green light for the complete acquisition of EPCOGEN Private Limited, a specialized solutions provider dedicated to engineering design and solutions within the energy sector.

EPCOGEN stands out as a unique solutions provider in the energy engineering domain, catering to various energy types. Their expertise extends to the engineering, procurement, and construction (EPC) peripheral, a vital and customer-focused aspect of the oil and gas industry. Established in Hyderabad, India, in November 2020, EPCOGEN has demonstrated its prowess in critical engineering components. The acquisition is valued at INR 26.25 Crores, along with an additional 3-year earnout of INR 7 Crores, contingent on performance until FY26.

This strategic acquisition signals a significant move for AXISCADES Technologies Limited, as they strengthen their foothold in the energy sector. With EPCOGEN’s specialized engineering solutions, they are poised to make substantial contributions to the energy industry's engineering and design landscape. This development aligns with AXISCADES' commitment to providing cutting-edge engineering solutions across various sectors. The acquisition is expected to bolster the company's portfolio and enhance its capabilities in delivering innovative engineering solutions in the energy space. The three-year earnout based on performance underscores the confidence in EPCOGEN's potential for growth and value creation in the coming years.