SAP market improving, reports HCL Axon

by Editor 9/25/2009 4:07:00 PM
The demand for SAP services is growing stronger again, according to HCL Technologies' subsidiary HCL Axon. Axon president Steve Cardell tells CNBC-TV18, “In the SAP market, we have seen positive movement in financial services, retail and also some core entities like consumer and life sciences.”

Demand virtually disappeared in the first quarter, says Cardell, but things have definitely picked up again, especially in the SAP market. "What we have definitely seen in this quarter is many of those projects now come back into place. So it will take a little while for that to feed through into order book but we definitely see optimism in the market compared to the first quarter of this year.”

HCL Axon is looking to expand its IT consulting services by acquiring several specialized companies in different sectors in continental Europe and some of the emerging markets over the next two quarters. As Cardell tells Dow Jones Newswires, "We would be looking at acquiring companies which are working in financial services, enterprise reporting and life-sciences sectors." Axon is looking for acquisitions in the $50-100 million range.

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Axon | SAP

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