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Article: India: AXIS IT&T Acquires Nadathur-backed Cades Digitech.
- Article from:
- TendersInfo
- Article date:
- September 5, 2009
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Byline: kusumv03
The shares of Rajeev Chandrasekhar-owned AXIS IT&T were trading at Rs 46.55, up by nearly a 5% today.
AXIS IT&T, an engineering and software solutions provider, has acquired a 51% stake in Bangalore based-Cades Digitech for an undisclosed amount. The acquisition has been finalized & approved by the company board, AXIS IT&T said in a filing to the Bombay Stock Exchange. Business Standard reports that the transaction is valued at close to Rs 75 crore and AXIS IT&T will eventually pick up a 100% stake in the firm.
Cades, a product design and engineering services firm, has been backed by Nadathur Holdings, the investment arm of ...