Indian IT services giant Infosys has beefed up its consulting division with plans to buy UK-based SAP consultant Axon Group for £407.1m.
Infosys announced yesterday that it had agreed terms for a recommended cash offer for the company, which consults with multinational companies that use SAP as their enterprise platform.
"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," Infosys chief executive Kris Gopalakrishnan said in a statement.
Infosys believed the purchase would accelerate one of its strategic objectives: the expansion of its consulting practice. The growth was necessary to aid it in tackling large business transformation programmes.
Axon has 2,000 employees in offices in the UK, North America, Malaysia and Australia, while Infosys has 91,000 staff in over 40 offices in India, China, Australia, the Czech Republic, Poland, the UK, Canada and Japan.
Infosys said it expects the transaction to be completed by November 2008.