<p>Product design and engineering services company Cades Digitech Private Ltd, a subsidiary of Axis IT&T (AAT), said on Thursday that it will acquire a 76 per cent stake in Studec Technologies India, the Indian subsidiary of French engineering company Studec France, which specialises in customer services, technical documentation and systems services for the aerospace and defence industries.<br /><br /></p>.<p>The acquisition will help Cades Digitech address business opportunities in customer services and documentation engineering for the aerospace and defence industries. <br /><br />Post-acquisition, the entity will be renamed as Cades Studec India Pvt Limited, Sudhakar Gande, vice-chairman of AAT said. He did not disclose the financial scope of the transaction, which is expected to close by the end of fiscal 2013.<br /><br />Studec France has a customer base largely concentrated in the aerospace and defence sectors. Its subsidiary in Bangalore commenced operations in 2008, and currently employs over 250 engineers working on various aerospace projects.<br /><br />Cades Digitech, initially backed by Infosys co-founder N S Raghavan's Nadathur Holdings, has engineering services agreements with aerospace and defence entities like EADS, Boeing, Fokker Elrno, Premium Aerotec and BEML.</p>
<p>Product design and engineering services company Cades Digitech Private Ltd, a subsidiary of Axis IT&T (AAT), said on Thursday that it will acquire a 76 per cent stake in Studec Technologies India, the Indian subsidiary of French engineering company Studec France, which specialises in customer services, technical documentation and systems services for the aerospace and defence industries.<br /><br /></p>.<p>The acquisition will help Cades Digitech address business opportunities in customer services and documentation engineering for the aerospace and defence industries. <br /><br />Post-acquisition, the entity will be renamed as Cades Studec India Pvt Limited, Sudhakar Gande, vice-chairman of AAT said. He did not disclose the financial scope of the transaction, which is expected to close by the end of fiscal 2013.<br /><br />Studec France has a customer base largely concentrated in the aerospace and defence sectors. Its subsidiary in Bangalore commenced operations in 2008, and currently employs over 250 engineers working on various aerospace projects.<br /><br />Cades Digitech, initially backed by Infosys co-founder N S Raghavan's Nadathur Holdings, has engineering services agreements with aerospace and defence entities like EADS, Boeing, Fokker Elrno, Premium Aerotec and BEML.</p>
