indias-infosys-makes-748-million-uk-acquisition

India's Infosys makes $748 million UK acquisition

Infosys enters a deal to buy information technology company Axon for $748 million allowing it to consolidate its position in Europe.

Sameera Anand

August 27, 2008

India's leading software firm, Infosys Technologies, will take over UK-based consultancy firm Axon for ú407.1 million $748 million in IndiaÆs largest outbound information technology MA deal and InfosysÆs largest MA deal ever.

Infosys on Monday offered ú6.00 per share to buy 100% of Axon's equity with the aim of delisting the company from the London Stock Exchange where it currently trades. The price represents a 19.4% premium to Axon's closing price on August 22, the last trading day before InfosysÆs announcement, and a 33% premium to its average closing price in the past six months.

AxonÆs share price has fallen from ú9.28 as recently as one year ago. But analysts are bullish...

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