HCL has taken over UCS Group's SAP biz
HCL Axon, a division of HCL Technologies, on Friday announced the takeover of the SAP practice of South Africa-based UCS Group.
By ET Bureau |
NEW DELHI: HCL Axon, a division of HCL Technologies, on Friday announced the takeover of the SAP practice of South Africa-based UCS Group. The transaction entails an all-cash consideration of $7.7 million and earn-out over the next two years.
The effective date of the transaction is August 1, 2009. The acquired practice offers tier-I retail and wholesale SAP project implementations. In a statement, HCL said the carve-out will deepen its SAP capabilities with best-in-class retail industry solutions (IS) and further increase its global delivery capabilities, including a boost to its presence in South Africa.
���We have a stated strategy to bring strong customer-focused vertical propositions and have identified the retail market as a major opportunity,��� HCL Axon president Steve Cardell said.
The retail vertical is a key growth area for SAP and for HCL, the Indian IT firm���s enterprise application services head and corporate VP Ram Krishna said.
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