Infosys (Infosys Technologies Limited), one of India’s most successful IT companies, marks its presence in the European market after acquiring Axon, a UK-based IT consultancy firm.
Infosys pays £407 million (US$745 million) for the company, with Axon’s founder and chairman, Mark Hunter goes home £44 million (US$80 million) richer.
Both Infosys and Axon are major players in the implementation of SAP systems, and with the acquisition, the company sets to take its expertise into another level. Axon currently serves major clients including British Petroleum (BP), Kraft Foods, Microsoft and a number of government departments.
This is Infosys’ first takeover exercise in Europe, which seems to be a step in the right direction in expanding its market and influence.
Infosys was established in 1981 by NR Narayana Murthy, a graduate of Indian Institute of Technology Kanpur (IITK), together with 6 other partners. Today, the company stands proud with over $30 billion market capitalization, with its revenues exceeding the $4 billion mark annually.
Infosys is the only Indian company to have won the Global Most Admired Knowledge Enterprise (MAKE) award, and more impressively, winning it for 3 years in a row between 2003 and 2005. It was also named as the Best Employer in Indian by Business Today. The founder, Narayana, was accorded with Padma Vibushan, the second highest award for a civilian.
Infosys is headquartered in Bengaluru, India, employing close to 100,000 employees and operating in over 30 countries worldwide.