AXISCADES acquires majority stake in Cloud Wave and its subsidiaries

AXISCADES Technologies has completed the acquisition of 90% (ninety percent) of the share capital of Cloud Wave (and the indirect acquisition of 90% (ninety percent) of the share capital of Cloud Wave's wholly owned subsidiaries, Protohubs and Aureate), for a purchase consideration of Rs 234 crore.

Consequent to completion of this acquisition and other closing conditions as mentioned in the Transaction Documents, Cloud Wave, Protohubs and Aureate have become subsidiaries of the Company, and Protohubs and Aureate have become step-down subsidiaries of the Company.