AXISCADES XIDA to acquire US AI hardware firm ITSJ for up to $7M

AXISCADES Technologies Limited announced that its Board of Directors has approved the acquisition of substantially all the business assets of ITSJ Group, Inc. by its US subsidiary, XIDA Inc. The acquisition aims to establish a US base within the AI hardware supply chain, specifically in semiconductor equipment and data-centre infrastructure. ITSJ, founded in 2023, supplies sub-assemblies to leading semiconductor-equipment manufacturers and a hyperscale data-centre operator. The transaction involves a consideration of up to US$ 7.0 million (approximately ₹67 crore), with US$ 2.5 million in cash at completion. The balance includes XIDA shares vesting over 30 months and an earn-out of up to US$ 2.0 million tied to performance milestones. This move provides XIDA with a Silicon Valley platform for design-to-build capabilities and strengthens its global delivery model.