Indian IT service provider, HCL Technologies has finally acquired UK based IT Company Axon. The second largest software services provider infosys technology was also interested for the acquisition but dropped the idea of outbid HCL. Axon is known for consulting services based on business software created by Germany's SAP.

Earlier, Infosys was ready to pay 600p a share but the rival HCL technologies increased the share value to 650p per share and finally acquired Axon. Many industry players were expecting Infosys as a winner in the race but Infosys cut its profits forecast and decided not to further increase the share price. Infosys held responsible to current global meltdown and depreciation of rupee to lose the deal.

The deal is the biggest ever foreign deal by any Indian information and technology company. An Axon spokesman said that the company is satisfied with the deal and it would provide outsourcing and other additional services to the Indian group.