HCL completes Axon acquisition

December 15th, 2008 - 9:37 pm ICT by IANS  

New Delhi, Dec 15 (IANS) HCL Technologies Monday announced it has successfully acquired leading UK-based SAP consulting company, Axon Group, for 440 million pounds in an all-cash deal.“The merger of Axon and HCL SAP practice presents a great opportunity for bringing new capabilities to the market with a truly global delivery model. We welcome Axon employees into the HCL family in the form of HCL Axon,” HCL Technologies’ Vineet Nayar said.

HCL is one of the leading software companies in India, clocking over $4 billion in revenues.

Added Steve Cardell, HCO Axon president: “HCL Axon has enormous potential, given the complementary strengths of both companies.”

Some industry analysts earlier argued that acquiring Axon would not be a good bet for HCL as it would be difficult to make the acquisition work out financially, given the global financial crisis.

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