AXISCADES Expands Global Technology Footprint with US Acquisition Plan and Swiss Company Takeover

Bengaluru-based AXISCADES Technologies Limited has announced two significant international acquisition developments, strengthening its global business expansion strategy across advanced engineering, semiconductor equipment manufacturing and technology services. On October 14, 2026, the company informed the National Stock Exchange (NSE) and BSE Limited that its board had approved a proposed acquisition of business assets belonging to US-based ITSJ Group Inc. for up to US$7 million, approximately ₹67.02 crore. In a separate regulatory disclosure issued the same day, AXISCADES confirmed the completion of its acquisition of Swiss company Ulosia Holding AG.

The two developments represent distinct stages of the company’s international expansion. While the acquisition of substantially all business assets of California-based ITSJ Group remains subject to definitive agreements and completion requirements, the acquisition of Ulosia Holding AG has already been completed. The Swiss company became a wholly owned subsidiary of AXISCADES with effect from October 14, 2026.

The announcements highlight AXISCADES’ continued efforts to expand its international corporate and industrial presence. The proposed American transaction is particularly important for the company’s semiconductor equipment and artificial intelligence data-centre business, as it seeks to combine manufacturing capabilities in the United States with its established engineering operations in India.

AXISCADES Approves US$7 Million Acquisition of American Engineering Business

AXISCADES informed both stock exchanges that its board of directors had granted in-principle approval for the acquisition of substantially all business assets of ITSJ Group Inc., an American precision engineering and electronics manufacturing company headquartered in San Jose, California.

The proposed transaction will be undertaken through XIDA Inc., formerly Mistral Solutions Inc., a step-down subsidiary of AXISCADES incorporated in Delaware, United States. XIDA operates within the group’s semiconductor and advanced manufacturing business, making it the designated entity for the proposed acquisition.

ITSJ Group was incorporated in Delaware in 2023 and operates in precision engineering, electronics manufacturing and industrial systems integration. Its customers operate in specialised technology sectors, including semiconductor equipment manufacturing and data-centre infrastructure.

Under the proposed arrangement, XIDA will acquire substantially all of ITSJ’s business assets rather than purchasing shares in the American company. Consequently, ITSJ Group itself will not become a subsidiary of AXISCADES or XIDA. The transaction is structured to transfer the relevant operating assets and business capabilities to XIDA while leaving liabilities with ITSJ, except for those specifically assumed under the agreement.

The company’s October 14 regulatory filing identifies the acquisition as part of its existing semiconductor and manufacturing business rather than an unrelated diversification initiative.

American Acquisition Targets Semiconductor Equipment and AI Data-Centre Markets

The proposed ITSJ acquisition is designed to strengthen AXISCADES’ capabilities in two rapidly expanding industrial sectors: semiconductor manufacturing equipment and artificial intelligence data-centre infrastructure.

ITSJ Group provides specialised engineering and manufacturing services, including computer numerical control machining, printed circuit board design and assembly, electrical cabinet manufacturing, cable and harness assemblies, embedded systems, box-build manufacturing and systems integration.

These capabilities support the development and production of complex industrial equipment used in semiconductor fabrication facilities and advanced computing infrastructure. Semiconductor equipment manufacturers require precisely machined components, electronic assemblies and integrated systems that meet demanding engineering and quality requirements.

Artificial intelligence data centres also depend on sophisticated electrical, electronic and mechanical systems to support high-performance computing equipment. The growing scale of AI infrastructure creates opportunities for specialised engineering companies capable of manufacturing equipment components and integrated assemblies.

AXISCADES stated that the acquisition would provide XIDA with an established US-based design-to-build and manufacturing capability serving global semiconductor equipment manufacturers and a hyperscale data-centre operator.

The San Jose operation would complement XIDA’s existing engineering capabilities in India, creating an opportunity to integrate design, engineering, precision manufacturing and systems assembly across the company’s international operations.

ITSJ Group Brings Established Precision Manufacturing Capabilities

ITSJ Group operates in a specialised segment of the American technology manufacturing industry, providing services to customers requiring precision-engineered components and electronic systems.

Its manufacturing capabilities include CNC machining, which uses computer-controlled equipment to produce components to specified dimensions and tolerances. Such processes are widely employed in semiconductor equipment manufacturing, industrial automation and other applications requiring high levels of mechanical precision.

The company also undertakes printed circuit board design and assembly, electrical cabinet manufacturing, cable and harness integration, and the production of complete electronic and electromechanical assemblies.

These services allow equipment manufacturers to obtain multiple engineering and manufacturing functions from an integrated supplier. The ability to combine mechanical fabrication with electronic assembly is particularly relevant to complex industrial systems.

According to the AXISCADES regulatory disclosure, ITSJ recorded revenue of US$3.37 million in calendar year 2024 and US$3.47 million in calendar year 2025. The latter is equivalent to approximately ₹33.22 crore, based on the conversion provided in the filing.

The revenue figures are based on unaudited management accounts reviewed during financial due diligence. AXISCADES identified the company’s operational capabilities and customer relationships as important components of the proposed acquisition.

By integrating these assets into XIDA, AXISCADES intends to expand its manufacturing capabilities in San Jose while supporting further growth through its existing engineering resources, business systems and management.

Acquisition Includes Manufacturing Assets, Intellectual Property and Customer Contracts

AXISCADES has proposed an asset-purchase structure that will allow XIDA to acquire the operational components necessary to continue and develop ITSJ’s business activities.

The assets covered by the proposed transaction include customer and vendor contracts, manufacturing equipment, inventory, intellectual property, receivables and goodwill. XIDA also intends to offer employment to ITSJ’s employees, supporting the continuity of specialised engineering and manufacturing expertise.

The inclusion of intellectual property, customer relationships and manufacturing equipment is relevant to the company’s plan to establish an integrated operational presence in the United States.

The acquisition would give XIDA access to existing manufacturing capabilities rather than requiring it to establish an entirely new production operation. It would also provide an opportunity to combine American manufacturing resources with engineering expertise available through AXISCADES’ Indian operations.

According to the exchange disclosure, the proposed transaction will not constitute a related-party transaction. The company also confirmed that neither its promoters nor promoter-group companies hold an interest in ITSJ Group.

AXISCADES Structures US Acquisition Through Cash, Shares and Performance Payments

AXISCADES has proposed a maximum transaction consideration of US$7 million, consisting of an initial guaranteed component and additional payments linked to business performance.

The guaranteed consideration amounts to US$5 million. This comprises US$2.5 million in cash and US$2.5 million in restricted shares of XIDA Inc., which will be issued to the seller or its promoter upon completion.

The company disclosed that US$550,000 had already been advanced to ITSJ as interim bridge funding. This amount will be adjusted against the cash consideration payable at completion.

The restricted shares will vest in ten equal quarterly instalments over 30 months, subject to the contractual conditions. Following their issuance, the seller or its promoter is expected to hold approximately 0.60% of XIDA Inc.

An additional earn-out payment of up to US$2 million may be made in cash over three years, depending on the achievement of agreed customer-transition, revenue and margin milestones.

The transaction will not involve the issuance of shares by the listed company, AXISCADES Technologies Limited. Instead, the equity component will consist of shares in its American step-down subsidiary, XIDA Inc.

The company stated that the consideration was determined through negotiations conducted at arm’s length, taking into account the business plan and financial due diligence.

US Acquisition Expected to Progress Towards Completion in March 2027

The AXISCADES board approved the proposed ITSJ asset acquisition during its meeting on October 14, 2026. The meeting commenced at 7:00 PM and concluded at 8:13 PM Indian Standard Time.

The company expects the definitive Asset Purchase Agreement to be executed by November 30, 2026, following completion of the applicable pre-signing requirements.

The proposed transaction is expected to be completed on or before March 31, 2027, subject to the conditions outlined in the agreement and applicable regulatory requirements.

AXISCADES stated that the acquisition does not require approval from an Indian government or regulatory authority. However, the transaction remains subject to customary corporate approvals and any regulatory requirements applicable under American law.

The company expects the acquisition to support the expansion of its semiconductor equipment and AI data-centre manufacturing business. Its regulatory filing states that the proposed transaction is not expected to have a material impact on consolidated financial results for the 2026–27 financial year.

AXISCADES Completes 100% Acquisition of Switzerland’s Ulosia Holding AG

In a separate stock exchange disclosure dated October 14, 2026, AXISCADES confirmed that it had completed the acquisition of 100% of the share capital of Ulosia Holding AG, a company incorporated under Swiss law.

The company has its registered office in Baar, Switzerland. Following completion of the acquisition, Ulosia Holding AG became a wholly owned subsidiary of AXISCADES with effect from October 14, 2026.

The completion announcement follows an earlier regulatory disclosure issued by AXISCADES on June 12, 2026, concerning the acquisition.

Unlike the proposed ITSJ transaction, which involves the purchase of business assets, the Swiss acquisition involves ownership of the entire share capital of Ulosia Holding AG.

The completed transaction adds a Swiss corporate entity to AXISCADES’ international subsidiary structure and represents a further step in the company’s overseas business expansion.

Both announcements were issued under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Two International Transactions Reflect Different Acquisition Strategies

The American and Swiss transactions demonstrate two different approaches to international corporate expansion.

The proposed acquisition of ITSJ Group’s business assets is designed to strengthen specific operational capabilities. AXISCADES intends to acquire the manufacturing infrastructure, technical expertise, intellectual property and customer relationships associated with the American company’s business.

This approach would allow the Indian engineering group to expand its presence in the semiconductor equipment and AI data-centre manufacturing sectors through an operating business in California.

The acquisition of Ulosia Holding AG, meanwhile, involves the purchase of an entire corporate entity. The Swiss company has become a wholly owned subsidiary of AXISCADES following the completion of the share acquisition.

Both developments expand the geographical reach of AXISCADES beyond India, while the proposed ITSJ transaction has an explicitly identified industrial objective involving advanced manufacturing and semiconductor-related engineering services.

The announcements also reflect the company’s use of international subsidiaries to support its overseas operations and business development activities.

AXISCADES Strengthens India-US Engineering and Manufacturing Integration

One of the principal objectives of the proposed ITSJ acquisition is to combine American precision manufacturing capabilities with AXISCADES’ engineering operations in India.

The company identifies XIDA’s existing Indian engineering capabilities as an important complement to the manufacturing services provided by ITSJ Group.

This arrangement would enable the group to bring together engineering design, specialised component manufacturing, electronics assembly and systems integration within a broader international operating structure.

The semiconductor equipment industry relies on companies capable of delivering highly specialised components and integrated systems. Manufacturers serving this market must combine mechanical precision with sophisticated electrical and electronic engineering.

The proposed acquisition would expand XIDA’s capabilities in these areas while supporting its involvement in the semiconductor equipment and AI data-centre markets.

For India’s advanced manufacturing industry, such international acquisitions provide opportunities for Indian engineering companies to extend their participation in global technology supply chains.

The integration of engineering capabilities across India and the United States also supports the broader expansion of Indian companies into international industrial technology markets.

AXISCADES Expands Its Global Presence in Advanced Engineering

AXISCADES Technologies Limited is a Bengaluru-headquartered engineering and technology company operating across specialised industrial sectors, including aerospace, defence, semiconductor-related manufacturing and advanced engineering services.

The company has developed capabilities in product engineering, embedded systems, industrial technology and manufacturing solutions. Its international operations support customers requiring specialised engineering expertise and integrated technical services.

The proposed acquisition of ITSJ Group’s business assets strengthens its strategy of combining engineering services with physical manufacturing capabilities.

The American company’s established operations in San Jose would add precision machining, electronics manufacturing and systems integration capabilities within one of the world’s important technology and semiconductor industry centres.

At the same time, the completed acquisition of Ulosia Holding AG expands the group’s corporate presence in Switzerland.

Together, the two announcements demonstrate AXISCADES’ continued focus on international expansion through targeted acquisitions aligned with its engineering and industrial business activities.

AXISCADES’ US and Swiss Acquisitions Support International Growth

The October 14 announcements mark an important stage in AXISCADES Technologies’ global expansion, combining a proposed American industrial asset acquisition with the completed takeover of a Swiss company.

The planned acquisition of ITSJ Group’s business assets for up to US$7 million is particularly relevant to AXISCADES’ semiconductor equipment and AI data-centre manufacturing activities. It would strengthen the company’s American operational presence while creating opportunities to combine precision manufacturing in California with engineering capabilities in India.

The completed acquisition of Ulosia Holding AG establishes a wholly owned Swiss subsidiary, extending the company’s international corporate footprint.

These developments highlight the growing participation of Indian engineering enterprises in international technology and industrial manufacturing markets. They also demonstrate how targeted overseas acquisitions can provide access to specialised manufacturing capabilities, customer relationships and technical expertise.

With its Swiss acquisition completed and its American manufacturing acquisition progressing towards definitive agreements, AXISCADES is expanding the international foundations of its advanced engineering and technology business.

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References

1. AXISCADES Technologies Limited — Official NSE/BSE Regulatory Disclosure
Acquisition of the Business Assets of ITSJ Group, Inc. by XIDA Inc., a Step-Down Subsidiary of the Company
Date: October 14, 2026.
Includes the proposed US$7 million transaction, acquisition structure, business details, financial information and expected completion schedule.

https://nsearchives.nseindia.com/corporate/AXISCADES_14102026230046_Reg30AcquisitionITSJ_14102026.pdf

2. AXISCADES Technologies Limited — Official NSE/BSE Regulatory Disclosure
Update on Acquisition — Completion of 100% Acquisition of Ulosia Holding AG
Date: October 14, 2026.
Confirms completion of the Swiss acquisition and the company’s wholly owned subsidiary status.

https://nsearchives.nseindia.com/corporate/AXISCADES_14102026233511_UpdatesonAcquisition_14102026.pdf

3. AXISCADES Technologies Limited — Official Corporate Website
Company information, engineering capabilities, industrial technology operations and international business activities.https://axiscades.com/

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