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HCL Technologies Completes Acquisition Of AXON Group

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This appears to be the largest acquisition in the tech space by an Indian company.
HCL Technologies (HCL) announces that its £440m cash offer for the leading UK based SAP consulting company, AXON Group (AXON) has been successfully completed.

Commenting on the announcement, Ram Krishna, Corporate vice president and head
Enterprise Application Services, said “Enterprise Application Services is one of the 8 areas of growth at HCL. The merger of Axon with HCL's SAP practice is a transformational one that will make HCL significant in this chosen area of growth. Combining HCL AXON's capabilities with HCL's breadth of IT services and proven track record in delivering large transformational engagements allow for constructing credible and unique value propositions that enable IT transformation with no additional spending. The positive employee morale and our own experience of successfully integrating the varied organisations we have acquired over the years make us confident of the transformational impact of this merger on our customers, employees and shareholders.”

Steve Cardell, president, HCL AXON said, “HCL AXON has enormous potential given the complementary strengths of AXON and HCL SAP practice. The current capability gap prevents vendors from addressing the full opportunity. As HCL AXON, we will be combining AXON's strong business benefit led consulting and implementation capabilities with HCL's strong Global Delivery based application and infrastructure management capabilities. We are confident of being able to leapfrog competition in delivering unique value on an end to end basis for customers who have chosen SAP as their strategic technology platform and whose business challenge is transformation.”

Currently Enterprise Application Services (EAS), the sector in which HCL AXON operates, constitutes 11% of HCL's revenue. The combination of the two will create a business accounting for 25% of HCL's revenues.
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