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.
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."