AXISCADES acquires Mistral for Rs 175 crore

Engineering services company Axiscades has acquired Bengaluru-based defence electronics firm Mistral Solutions for Rs 175 crore to enhance its competence in the embedded electronics space.

“This acquisition will enhance our competence in embedded electronics and improve our customer base in India, “said Sudhakar Gande, Vice Chairman of Axiscades. “Mistral's competence in embedded (electronics) will also offer better cross-selling opportunities and help deepen relations with existing customers.”

Gande said the acquisition will "help capitalise on the Make in India initiative" by the government, leveraging on deep-rooted partnerships with established players in the Indian defence ecosystem.

Trilegal acted for Mistral and the team was led by Partner Kosturi Ghosh, along with Senior Associate Vallishree Chandra and Associate Adhunika Premkumar.

AXISCADES were advised by Poovayya & Co. and the team was led by partners Siddhartha George and Rohan Kumar, along with Principal Associate Sunita Kamath and Associate Pragnya Sridhar.