Infosys acquires United Kingdom's Axon for £407 million
In the largest acquisition by an Indian technology services firm, Infosys Technologies Ltd made a £407.1 million, or Rs 3,269 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.
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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.
To read the full article, click here..
To read the ePaper, visit: http://epaper.livemint.com
Labels: Axon, big deal, Europe, firms, footprint, Indian technology services, Infosys, London Stock Exchange, SAP, UK
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12:40 PM
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