HCL Axon completes UCS deal

NEW DELHI, INDIA: Indian software company HCL Technologies Ltd. said that the buy out process of the SAP operations of South Africa's UCS Group Ltd by HCL AXON has been successfully completed.

The deal was announced last month. The carve-out transaction entailed an all cash consideration of $ 7.7 mn and growth centered earn-out over the next two years.

The acquired practice is a division of UCS Solutions and offers Tier 1 retail and wholesale SAP project implementations. The carve-out transaction entails an all cash consideration of Rand 57.1 Million and growth centered earn-out over the next two years, HCL said in a filing with the BSE.