Infosys decides to acquire Axon for $755 million

It’s Infosys again in news, Infosys has made the announcement for the acquisition UK-based Axon Group for $755 million in an all cash deal. This could be giant step by Infosys. This is going to be the ever biggest acquisition in Indian IT history. According to media reports, Infosys has paid a price which is a 33 per cent premium to the average price of Axon stock, listed on the London Stock Exchange, for the last six months. Axon’s earned a profit of $37.4 million for revenues for $378.3 million for the financial year ending December 2007. Compare that with the financial year ending March 2008 revenues of Infosys Rs 15648 crore and profit of Rs 4470 crore. Clearly is not the most profitable company that Infosys has sealed the deal for.