Infosys set to acquire UK-based company for USD 753 million

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Bangalore, Aug 25 (UNI) Infosys, India's leading Software and IT company today announced its plan to acquire Axon Group Plc, a leading UK-based SAP consulting company, with an offer price at USD 753.1 million Addressing a press conference here today Infosys CEO S Gopalakrishnan said Axon, a listed company on the London Stock Exchange, had reported a profit of 37.4 million Dollars after taxation and a revenue of 378.3 million Dollars last year.

''The acquisition will help us to enhance our growth in SAP space globally,'' he added.

Infosys had offered Axon to acquire 100 per cent stakes at a price of six Pounds per share through a cash deal. This is the largest ever acquisition deal struck by the city-based IT major.

Based in London, Axon is the leading SAP consulting company with 2000 plus employees serving clients in over 30 countries.

The CEO said Infosys was offering a 33.1 per cent premium to the Axon's share compared to six months average share price of 4.51 Pounds and 19.4 per cent premium to the closing price of 5.025 pounds on August 22, 2008, the last business day prior to announcement.

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