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by Jeff Moad, MA Editorial Staff
Posted on Wednesday, August 27, 2008 4:22:02 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | With its three-quarters-of-a-billion-dollar bid for Axon, an SAP systems integrator, the Indian IT provider Infosys looks to expand its SAP consulting business. |
| Keywords: | Infosys acquisition, Infosys Axon |
Infosys Technologies’ proposed £407 acquisition of United Kingdom-based SAP services provider Axon Group plc signals ongoing consolidation in the IT services market and a desire by larger providers to counterbalance their exposure to the slowing North American economy, experts said this week.
Infosys, a $4.4 billion Bangalore, India-based provider of IT outsourcing and consulting services, said this week that it hopes to complete its acquisition of Axon by November. Infosys’ bid for publicly traded Axon represented a 19.4% premium over its share price just prior to the deal’s announcement. Axon’s share price quickly rose to around £6, the level of the Infosys bid.
Despite widespread speculation that a counteroffer for Axon might be forthcoming, none had yet surfaced by press time.
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