Axon Group, a business transformation services
consultancy, has acquired Feanix Corporation, a leading provider of
SAP consulting services.
Axon designs, implements and supports solutions to complex
business issues faced by multinational organisations that have
chosen SAP as their strategic enterprise platform. Feanix was
formed in February 2004 from a management buy-out of Xansa’s SAP
practice.
The company already has more than 85 consultants working on
critical SAP programmes at major corporations such as Sikorsky
Aircraft, Pratt & Whitney and the Goodrich Corporation.
The deal is thought to be worth initially £12.5m consisting of
£6.4m cash plus 2.8m newly issued Axon Group shares worth £6.1m.
The companies hope that Feanix’s deep industry and SAP skills,
combined with Axon’s broader consulting services, will provide a
platform to create a leading business transformation consultancy
for large corporations that have chosen SAP as their strategic
enterprise platform.
Mark Hunter, Chairman and chief executive of Axon Group
comments:” In the last three years, we have established the leading
European Business Transformation Consultancy focused on the needs
of large corporations that have chosen SAP as their strategic
enterprise platform. The combination of our respective businesses
has created a new force in the market."
