Product engg co Axiscades acquires oil & gas service provider Epcogen

Publicly listed Axiscades Technologies Ltd has completed the acquisition of Hyderabad-headquartered Epcogen Pvt Ltd for INR 26.25 crore, with an additional 3-year earnout of INR 7 crore based on performance. The acquisition is aimed to enhance Axiscades' footprint in the energy sector and fortify its position in the energy markets of the Middle East and North America. Epcogen specialises in providing services to companies in oil & gas, refineries, petrochemical firms, and renewable power companies.