Infosys buys UK-based Axon for Rs 33 bn

Infosys buys UK-based Axon for Rs. 33 bn

Transfer of ownership expected to be completed by Nov 2008

Monday, August 25, 2008

BANGALORE, INDIA: Infosys Technologie has acquired UK-based SAP Consulting company Axon Group in a deal valued at Rs. 33.1 billion ($753.1-mn).

The transfer of ownership to Infosys is expected to be completed by November 2008.

Commenting on the transaction, the CEO of Infosys, Kris Gopalakrishnan said, "We are excited about this acquisition. The strategic combination of our groups will accelerate the realization of our common aspirations – that of becoming the most respected provider of business transformational services in the global market place. We hold the management and employees of Axon in high regard and look forward to welcoming them to the Infosys Group."

Axon provides consultancy services to multinational organizations that have chosen SAP as their strategic enterprise platform and has about 2000 employees.

Specializing in the delivery of change through technology-enabled transformation programs, Axon's consultants bring in-depth industry expertise alongside best practice functional knowledge to address the strategic, operational, information management and organization effectiveness challenges organizations face today.

Founded in 1994, Axon today has offices in the UK, North America, Malaysia and Australia. For the year ended December 31, 2007, Axon reported profit after taxation of £20.2 million (Rs 1.6 billion) on revenues of £204.5 million (Rs 16.6 billion).

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