Indian outsourcing supplier HCL Technologies has completed its
£440m takeover of UK SAP specialist Axon, in what is the largest
overseas acquisition by an Indian IT firm.
HCL beat rival Indian supplier Infosys Technologies to the
purchase of Axon.
The deal brings news application services capabilities to HCL's
global delivery model.
"Enterprise application services are one of the eight 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," said Vineet Nayar, CEO at HCL Technologies.
Phil Morris, European managing director at sourcing consultancy
Equaterra, said this is a very significant acquisition. "This
demonstrates HCL's growth ambitions in Europe."
He said in the past HCL relied on partners for its SAP services.
"HCL is no longer hiding behind the skirts of partners and going
forward with its own money."