Naxnova acquires Austria based Advanced Thermal Technologies (ATT)
MUMBAI, India, April 12, 2024 /PRNewswire/ — Naxnova, a global leader in surface augmentation and technology solutions, formerly known as Classic Stripes, announced the successful acquisition of Advanced Thermal Technologies (ATT), a pioneer in thermal management solutions based in Austria, today. This strategic acquisition, quick on the heels of the acquisition of the Belgium based Quad Industries, marks another significant step forward in Naxnova’s expansion strategy reinforcing their commitment towards delivering innovative solutions to customers worldwide.
ATT has built a reputation for design, development and manufacturing in Advanced Driver Assistance Systems (ADAS) Sensor and Camera Heating Solutions, Vehicle Cabin Solutions, Battery Heating Solutions, Battery Diagnostic Solutions, Seat Sensing & Heating Solutions, etc., serving a diverse range of industries including automotive, aerospace, retail and building. With world-class R&D capabilities and a track record of servicing marquee customers worldwide that includes prestigious OEM brands such as Porsche, Airbus, Daimler, Valeo, among others, ATT brings invaluable expertise and experience to the Naxnova family. Together with Advanced Thermal Technologies, the team aims to step up their offerings and deliver even greater value to customers and stakeholders worldwide.
Commenting on the second acquisition in the last 30 days, Mr. Salil Musale, Managing Director, Naxnova, shared, “This acquisition strengthens Naxnova’s commitment to innovation and customer delight. By combining our strengths with those of Advanced Thermal Technologies, we aim to accelerate product development, expand market reach, and create new opportunities for collaboration and partnership. These ingenious solutions in the field of Thermal Management will become a huge requirement for OEMs globally to ensure safety monitoring, and enhance human comfort. ATT stands out as one of the very few companies that have advanced technology in thermal science.”
“With this acquisition, we aim to commercialise these products with our current customers and new customers in India. This acquisition combined with our earlier announced acquisition of Quad Industries, Belgium is a perfect example of our Hon’ble Prime Minister’s vision of Design and Make in India for the World,” he further added.
By integrating ATT’s cutting-edge technologies and expertise into Naxnova’s portfolio, the team is poised to deliver enhanced value to our customers across various sectors. This acquisition not only strengthens their capabilities but also paves the way for aggressive development and commercialization of next-generation thermal management solutions for customers globally, especially in India.
In response to the acquisition, the founders of Advanced Thermal Technologies (ATT) expressed their enthusiasm and optimism. They stated, “Joining forces with Naxnova presents an exciting opportunity for us to further expand our reach and capabilities. We are proud of the reputation we have built in delivering innovative thermal management solutions to esteemed clients worldwide, and we are confident that together with Naxnova, we can achieve even greater success.”
They continued, “Naxnova’s commitment to innovation and customer satisfaction aligns perfectly with our own values, and we believe that this partnership will enable us to accelerate product development and offer enhanced value to our customers across various industries.”
This second acquisition marks a new chapter of growth and innovation for the home grown company. While the recently acquired Belgium-based Quad Industries, along with ATT, will create a value chain leveraging the synergies between all three companies to provide innovation and next-generation solutions for customers on a global level.
About Naxnova:
Naxnova (previously, Classic Stripes) the flagship company of the Astarc Group, is a design & technology company providing new-generation solutions to global OEMs in the Automotive, Consumer Durables & Appliances industries in India. The global design technology organization provides a diverse product range of integrated surface augmentation solutions that includes decals, flexible 3D badges, overlays, smart surfaces and electronic solutions. The company is a frontrunner in India to have rapidly advanced towards the research, product development, and commercialization of products enabled by printed electronics technology.
Operating from three state-of-the-art manufacturing facilities in India, Naxnova is creating a global and future-forward design and technology-first company with world-class manufacturing capabilities. The brand aims to achieve this through aggressive expansion and bolt-up acquisition plans globally, with next-generation products and solutions integrated with printed electronics technology that brands truly look for. Besides automotive, consumer goods and appliances, Naxnova will very soon be entering the medical devices & wearables industry. Naxnova prides itself on a dedicated workforce of over 1000 professionals serving customers in more than 16 countries, globally. In the automotive sector, the brand serves prestigious clients such as Yamaha, Ford, Honda, Suzuki, Tata Motors, Harley Davidson, KTM, Toyota, Hero, Bajaj, among others. Within the consumer durables segment, Naxnova serves leading names like Panasonic, Samsung, and more.
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