Axon drops Infy’s bid
The fight for SAP consulting company, Axon is taking an interesting turn – Axon has withdrawn its recommendation of a takeover bid from Infy, in favor of HCL’s bid (441 million, while Infy was 407 mn).
HCL is inching ahead in the deal and is now talking of strong cultural chord between the two companies, that will help in better integration.
HCL and Axon have hit it off quite well and there is a lot of cultural fitment between the two. HCL has a very entrepreneurial work culture and there’s nobody imposing their vision or telling how to lead their lives
The deal is important for both Infy and HCL, as SAP consulting gives them a new lever in consulting space – now that we are talking about global slowdown in IT spending, a niche might just help.
What’s your take?
About the author - Ashish Sinha is a Startup Mentor/Product Strategy Coach, and the founder/chief editor of pluGGd.in.
He has launched/managed couple of products (consumer as well as enterprise) in US and India, and now consults with startups/small businesses on their product/media strategy. He can be reached at: ashish (at) pluGGd.in [+91 98452 06443]
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[...] Ashish Sinha | Oct 17 2008 | Indian IT industry | Email This Post With Infosys bowing out of the deal, sole bidder HCL has bought 10.43% stake in Axon at 631 pence a [...]