Infosys to buy Axon

Infosys Technologies, the Indian IT giant has planned to acquire Axon Group of U.K. in an all cash transaction that is worth Rs. 3,310 crore. The acquisition process is likely to be completed in November. The Axon Group which was founded in 1994, has more than 2000 employees working in it and their revenues amounting to 204.5 million in 2007. According to the sources this acquisition would enable Infosys to become a global SAP consulting service provider. The Axon Group which is lacking in financial strength and global reach had gained only small revenues in their previous years. By enabling their acquisition with Infosys as a SAP service provider,their revenues would be start flowing in great hike and there is a lot of demand on SAP service and by these tasks there is a plenty of opportunities for growth to be increased and all the services would be globally reached in the coming years.