Submitted by Aditya Rao on August 25, 2008 - 10:49am.
The biggest acquisition in the
history of Indian IT services has taken place and is expected to be completed
fully by the month of November. Indian IT services giant and one of the market
leaders Infosys has announced that it will be acquiring the UK based Axon group.
Particulars include Infosys going in for the buy with an aggressive all-cash buyout.
They will be paying around 600 pence per share which is almost 100 pence more
than Axon’s current market value as of today.
This amounts to a total of almost
Seven Hundred and Fifty Five Million Dollars.
For Infosys to make a major
decision like this and buy
a very strong company like Axon in the current economic situation is a bold
and confident move. Therefore expect heightened investor confidence in the
company and notable trading in the stock over a short term period.
