Acquisition of Axon by HCL Technologies Limited
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Case Details:
Case Code : BSTR321
Case Length : 17 Pages
Period : 2008
Pub Date : 2009
Teaching Note :Not Available
Organization : HCL Technologies Limited, AXON Group Plc
Industry : Information Technology
Countries : India/UK
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Introduction Contd...
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In the late 1990s, the main business of HCL Enterprises was
divided into two subsidiaries - HCL and HCL Infosystems. HCL reported revenues
of Rs. 75,627.80 million and an operating income of Rs.12,980.20 million in the
fiscal year 2008.
Based in London, UK, Axon was started in 1994 by Mark Hunter, Donald Kirkwood,
and Paul Manweiler. The company went on to become one of the prominent names in
SAP Consulting. Within a few years, the company started making its presence felt
in the US and the Asia-Pacific region. For the six-month period till June 2008,
Axon reported revenues of £123,933 million and an operating profit of £16.5
million.
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With the acquisition of Axon, HCL, whose market was mainly
concentrated in the US, would gain a presence in the European SAP market.
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This would help the
company reduce its primary dependence on the US market.
On the other hand, HCL's
application and infrastructure management capabilities were expected to
benefit Axon by complementing its consulting and implementation
expertise.
According to a report by 4Ps7, "Indeed, with IT majors across
the globe trying to dilute their focus on the US, HCL's latest European
bait would allow it to hedge its position evenly across all markets.
Secondly, while Enterprise Application Service8 (EAS) business is the
talk of the town for all IT MNCs like IBM, Accenture et al, the deal
gives HCL an edge in this regard too."9
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