To fulfill its objective of continued expansion of consulting capabilities Infosys will buy Axon Group of UK. According to media reports Infosys Technologies on Monday disclosed that it was buying UK-based consultancy services firm Axon Group. The deal is in all cash, and will have value of £407 million or $753 million. Accordingly, the deal will be completed by the month of November this year.

 

Admittedly, the Nasdaq listed company is second largest exporter of IT services, wants to compete with the largest one Tata Consultancy Services. Recently, both the companies have been expanding strategically themselves in Europe, Asia, the Middle East and Latin America. The latest move from these firms is to reduce their dependence on the US market which is more than half the sector’s revenue.

 

According to Infosys source Axon buy-up would accelerate the achievement of some of Infosys’ current strategic corporate objectives, including the continued expansion of consulting capabilities. Recently, the firm reported a 21 per cent rise in quarterly profit. However, becoming more realistic it is cautious of its customers in west whose economy is not doing well these days.