Meena Vaidyanathan, HCL spokeswoman, said the acquisition would enable the firm to offer cost-competitive, end-to-end services. “The fact that Axon’s strengths are in defensive sectors, like public utilities and transport, which are presently not affected by the slowdown will only help,” Vaidyanathan said. She said it was “too early to speculate” on whether there would be layoffs due to the merger.

8.3%The premium that HCL will pay over Infosys’s bid of 600 pence per share

£441 mnHCL’s bid for Axon Group PLC at an offer price of 650 pence per share. Axon has decided to recommend HCL’s offer

£407.1 mnInfosys’s bid for Axon just six days prior to HCL making its offer. Analysts say Infosys may now hike its offer price to 700 a share