“This acquisition has come at a time when Indian software companies are expanding in Europe, Asia, the Middle East and Latin America to cut their dependence on the US market, which accounts for more than half the sector’s revenue,” said an IT analyst with a domestic broking firm.

Founded in 1994, Axon went on to deliver numerous firsts in the SAP market space including the first to implement business warehouse, strategic enterprise management and eBusiness solutions in the UK. In 2001 Axon acquired leading business consultancy Bywater. In 2005, the firm acquired Feanix Corporation, a leading US business transformation consultancy and has continued its expansion in the US. In 2007, Axon further expanded in the Asia-Pacific region with the acquisition of JSPC. Axon has turned over more than £204 million in 2007.

Last month, Infosys reported a 21 per cent rise in quarterly profit but warned of challenging times ahead as its major western clients battle weakening economies.

Rs 3,310 cr

What the deal between India’s No 2 services exporter and UK’s Axon has been valued at

The all-cash deal is to be completed by November 2008

infosys offered 600 pence a share for Axon, 19% more than the firms’ closing price the previous day

Axon to be delisted from London exchange after takeover

UK firm reported profit Rs 160 cr and revenue of Rs 1,660 cr in 2008

What is Axon?

Axon is a UK-based consultancy services firm. For the year ended December 2007, the firm reported a PAT of £20.2 million on revenue of £204.5 million

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