Infosys Technologies has announced that it has agreed terms for a recommended cash offer for a leading UK-based SAP consulting company, Axon Group, in a deal value at Rs 3,300 crore ($753.1 million). The transfer of ownership to Infosys is expected to be completed by November 2008, subject to the scheme of arrangement.
Commenting on the transaction Kris Gopalkrishnan, CEO of Infosys said, “This strategic combination of our groups will accelerate the realisation of our common aspiration - that of becoming the most respected provider of business transformational services in the global marketplace”.
Axon provides consultancy services to multinational organisations that have chosen SAP as their strategic enterprise platform and has about 2000 employees. Specialising 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 organisation effectiveness challenges faced by organisations today.
Founded in 1994, today, Axon has offices in the UK, North America, Malaysia and Australia.
Axon reported net profit of Rs 160 crore ($37.4 million) on a total revenue of Rs 1660 crore ($378.3 million).
