Infosys To Acquire Axon Group

Infosys Technologies has announced that it has agreed terms for a recommended cash offer for a UK-based SAP consulting company, Axon Group, in a deal valued at $753.1 million (Rs 33.1 billion). The transfer of ownership to Infosys is expected to be completed by November 2008, subject to the Scheme of Arrangement becoming effective.

Kris Gopalakrishnan, CEO of Infosys said, "We are excited about this acquisition. The strategic combination of our groups will accelerate the realisation of our common aspiration – that of becoming a respected provider of business transformational services in the global marketplace. We hold the management and employees of Axon in high regard and look forward to welcoming them to the Infosys Group."

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Axon provides consultancy services to multinational organisations that have chosen SAP as their strategic enterprise platform and has about 2,000 employees. Specialising in the delivery of change through technology-enabled transformation programmes, Axon's consultants bring industry expertise alongside best practice functional knowledge to address the strategic, operational, information management and organisation effectiveness challenges faced by companies today. Founded in 1994, Axon has offices in the United Kingdom, North America, Malaysia and Australia.

Infosys believes that the acquisition will accelerate the achievement of some of Infosys' current strategic corporate objectives including the continued expansion of Infosys' consulting capabilities that are required to engage with the large business transformation programmes of Infosys' clients.