The Channel logo

News

By | Kelly Fiveash 26th August 2008 09:39

Infosys swoops on Axon

Snaps up SAP firm

Shares in computer software firm Axon Group jumped more than 20 per cent this morning after it agreed a £407.1m takeover from Infosys Technologies.

Infosys announced yesterday (pdf) that it planned to buy the UK-based SAP consultant for a recommended cash offer. Axon consults with multinationals that use SAP as their enterprise platform.

It employs over 1,650 people and has a client list that includes BP, Buckinghamshire County Council, Cable and Wireless, Kraft Foods, Transport for London and Xerox.

"We are excited about this acquisition. The 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," said Infosys chief executive Kris Gopalakrishnan.

The giant Indian outsourcing specialist expects the acquisition to be completed in November 2008.

Shares in Axon are currently trading at 602.00 pence, up 20 per cent, on the London Stock Exchange. ®

alert Send corrections

Opinion

Tim Worstall

Or why the reversal of globalisation ain't gonna 'appen
The full Spanglish breakfast: mealy pudding, bacon, black pudding, sausages, fried egg, toast
Blood image

Trevor Pott

Can the storage giant overcome a lack of necessary leadership?

Chris Mellor

Why overlapping kit from a merger equals a disaster in waiting

Features

No, silly... he was the fall guy for years of Finnish folly
Fraud image
Frodo and the Ring
Microsoft's strategy is to make Store apps popular. Good luck with that