Mumbai: Axiscades Technologies announced on Thursday that its board of directors approved the acquisition of substantially all business assets of ITSJ Group, a San Jose-based precision engineering and electronics manufacturer. The acquisition, valued at up to ₹67 crore (approximately US$7.0 million), was approved on October 14, 2026.
Transaction Details
The deal involves an initial cash payment of US$2.5 million at completion, with the remaining consideration consisting of XIDA shares vesting over 30 months. An additional earn-out of up to US$2.0 million is tied to customer, revenue, and margin milestones. ITSJ’s legacy liabilities will remain with the seller, as this is an asset purchase.
Strategic Importance
ITSJ Group, founded in 2023, is a qualified supplier of sub-assemblies for semiconductor capital equipment and data-centre cooling and infrastructure systems. Axiscades said the acquisition provides XIDA with immediate supplier positions in these fast-growing segments of the AI hardware market.
Operational Integration
The acquisition gives XIDA an operating base in Silicon Valley, equipped with design-to-build capabilities in precision machining, PCB design and assembly, cable and box build, and full system integration. XIDA plans to combine a US front-end with Indian engineering capabilities to create a diversified delivery model and enhance resilience to global trade dynamics.
Management Commentary
S Ravi Narayanan, chairman of Axiscades Technologies, said ITSJ is XIDA’s gateway to both tools that make chips and data centres that run them. He added that the company gains supplier positions in Silicon Valley from day one.
Company Overview
Axiscades Technologies is an Indian technology group serving aerospace, defence, electronics, and semiconductor customers globally. Its XIDA business focuses on AI infrastructure and deep technology, including electronics design, semiconductor-equipment sub-systems, data-centre thermal systems, and edge AI.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
