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HCL completes acquisition of UK’s Axon
Indian company HCL Technologies has completed the acquisition of UK-based consulting Axon Group for GBP 441.1 million (468.3 million Euro,) making it the largest acquisition in tech space by any Indian company, it was reported. “The merger of Axon and HCL SAP practice present a greater opportunity to bring new capabilities to the market with a global delivery model providing full life cycle suite of services fitting into HCL’s Blue Ocean strategy,” HCL Technologies CEO Vineet Nayar said. Earlier, a London court had given the go-ahead to Axon to be acquired by HCL Technologies. India’s second largest IT company Infosys was also in the lead to acquire Axon and had made a cash offer of GBP 407.1 million for the same but was outbid by HCL Technologies. With this deal, HCL will become one the largest SAP implementation companies in the world.
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