Bangalore: In the largest acquisition by an Indian technology services firm, Infosys Technologies Ltd made a £407.1 million, or Rs3,269 crore, cash offer to acquire the UK-based Axon Group Plc.
If the deal goes through, it would not only expand the Indian company’s key SAP software and consulting capabilities, but also enhance its footprint in Europe, equipping India’s second largest IT services company to bid for larger, transformational outsourcing contracts.
The London Stock Exchange listed Axon reported a net profit of £20.2 million (Rs160 crore) on revenue of £204.5 million (Rs1,660 crore) for 2007. Axon, which has no debt on its books, provides consulting services to customers such as British Petroleum Plc. and Xerox Corp. that have chosen SAP AG’s business software as their company-wide platform. Founded in 1994, Axon has offices in the UK, North America, Malaysia and Australia, with about 2,000 employees.
“The strategic combination of our groups will accelerate the realization of our common aspiration—that of becoming the most respected provider of business transformational services in the global marketplace,” said S. Gopalakrishnan, CEO of Infosys, in a statement.
http://www.livemint.com/2008/08/26001551/Infosys-acquires-UK8217s-Ax.html?h=E
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