HCL AXON, the business transformation consultancy of HCL Technologies, has completed the carve-out of the UCS Group’s Enterprise Solutions SAP practice.
HCL had announced a strategic partnership with UCS Group and the sale of the UCS Group’s Enterprise Solutions SAP practice on July 16, 2009 subject to fulfillment of conditions precedent.
The conditions precedent have been fulfilled and the deal is complete, said HCL in a filing to the Bombay Stock Exchange(BSE). The acquired practice 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.
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