Infosys Technologies launched the biggest overseas acquisition by an Indian information technology outsourcing company on Monday with a £407.1m ($755.5m) cash deal for UK-based consultancy Axon Group. The deal, agreed by Axon’s board and supported by founding and large shareholders, values Axon at £6 per share, representing a 19.4% premium over its Friday close in London of £5.025 per share and a 33.1% premium over its six-month average, but well below last September’s 12-month high of 928.5p. The acquisition of Axon, which provides consulting services based on business software created by Germany’s SAP, in effect doubles Infosys’ presence in one of the fastest growing areas of computer services outsourcing.

This entry was posted by Gwen Robinson on Tuesday, August 26th, 2008 at 5:17 and is filed under Capital markets, M&A. Tagged with axon, Infosys. Edit this entry.