by Simon Quicke
24 November 2008
UK SAP specialists the Axon Group has given its backing to
the take-over offer from Indian based HCL Technologies.
HCL’s offer had emerged as the only substantial one on the
table after rival Infosys dropped out of the race to buy the company last
month.
In a statement following acceptance of the offer by Axon
shareholders the CEO of HCL said that it
made sense to strengthen its SAP consultancy skills in the current economic
environment.
“Axon has achieved a significant degree of success in
creating a leading SAP implementation services business which when combined
with HCL’s enterprise applications services, offshore capabilities and
complementary market presence in North America, Europe and Asia will help drive
the ongoing expansion of product and services capabilities in the global IT services
sector,” he said.
The race to acquire Axon started earlier this summer with
Infosys making the first move but after HCL made a better counter bid the
stakes proved to be too high for Infosys and it backed out after cutting its
growth forecasts for its fiscal year ahead.
