HCL plots to usurp Infosys with £441.1m Axon bid
Tuesday, September 30, 2008
HCL Technologies has challenged Infosys’s August bid for UK SAP consultancy, Axon Group. Under the terms of the Offer, Axon shareholders will receive 650 pence in cash for each Axon share valuing the entire issued and to be issued share capital of Axon at approximately £441.1 million. The latest bid tops Infosys’s previous £407.1m valuation of the consultancy.
Commenting on the strategic fit between HCL and Axon, Ram Krishna, Corporate Vice President - Enterprise Application Services, said “The merger of Axon’s strong implementation capabilities with HCL’s application and infrastructure management capabilities will help us deliver unique value on an end-to-end basis for the customers of HCL and Axon. The positive interactions between the HCL and Axon management teams since July 08, reinforces my belief that we will come together and create significant incremental value for both our customers and employees.”