|
|
|
26 Aug 2008
Indian offshore outsourcing giant Infosys is set to gain a firm toe-hold in the UK after agreeing to buy London-listed consultancy Axon Group for £407.1m.
The deal - one of the biggest overseas acquisitions yet by an Indian IT services outfit - comes as an increasing number of UK firms look to Indian firms to fulfil their outsourcing needs.
SAP consultancy Axon banked a net profit of £20.2m on sales of £204.5m last year and will hand Infosys access to a string of new European clients.
Further reading
Analysts say the deal - which is expected to close in November - will help reduce Infosys’ reliance on the US market, where the slowdown is jeopardising outsourcing growth.
Commenting on the transaction, Kris Gopalakrishnan, chief executive of Infosys said, "We are excited about this acquisition. The strategic combination of our groups will accelerate the realization of our common aspiration - that of becoming the most respected provider of business transformational services in the global marketplace.”
According to a recent report by independent sourcing advisory firm EquaTerra, every single one of the UK’s top IT spending organisations that offshore IT now use India as one of their destinations.
Related articles
In this video find out about the fast-growing Chinese vendor's plans for market domination and how the channel is its route of choice
Find out what gifts Acer has in store for partners for 2012 in this exclusive roundup of its recent conference
CRN's premier networking event is back on 17 May at the Ricoh Arena
Date: Thu 17 May 2012
Channel fighters preparing to square up once more on 24 May
Date: Thu 24 May 2012
The proliferation of endpoint devices within the enterprise has highlighted the shortcomings of one of the traditional approaches to data security
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Dave discovers that rozzers are seemingly living in the technology dark ages
Mark Needham, founder of distributor Widget, argues that John Browett leaves for Apple with Dixons in better shape than when he arrived
|
|
|
Do you agree?
Have your say