Infosys Technologies is all set to acquire UK based consultancy Axon Group. The company has to pay a huge amount of £407.1m ($755.5m) for this acquisition. The shareholders and board have already supported the deal. The acquisition would be the largest ever by any information technology company in India.

Axon Group is well known name in the field of consulting services in Europe. Its services are based on business software created by SAP. The acquisition would help in increasing the business of infosys in the continent. The chief executive of the company, Kris Gopalakrishnan said that the deal would help the company to participate in global deals. Infosys has a strong presence in US while Axon is providing services in UK.

The shares of Axon Group are valued at £6 per share. Its shares closed at £5.025 per share at London stock exchange on Friday. Indian outsourcing companies are showing interest in high dynamic world of outsourcing. Last year, Wipro technology had acquired US firm Info crossing for $600m.

The head of ABN Amro, Manoj Agarwal said that the move of infosys will encourage other outsourcing companies to participate in global acquisitions and mergers.