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

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper

Features

Hacked US CENTCOM Twitter account
Roll up, roll up, get your exclusive market insights
Wile E. Coyote goes over the edge again
money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals