Axiscades acquires Epcogen for Rs 26 cr to fortify position in energy markets of Middle East, North America
Axiscades Technologies (Axiscades) on Wednesday said it has acquired 100 per cent stake in Hyderabad-based Epcogen. Epcogen specialises in engineering design and providing solutions for the energy sector, Axiscades said in a statement. Axiscades has acquired Epcogen for Rs 26.25 crore to fortify its position in the energy markets of the Middle East and North America, it said.
“This acquisition marks a pivotal moment for both companies. Axiscades acquiring Epcogen at Rs 26.25 crore, with an additional 3-year earn-out of Rs 7 crore based on performance. The move underscores the company’s commitment to driving engineering excellence and innovation in the energy sector,” the statement said.
