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Axon acquires leading Oil & Gas SAP Consultancy in the US 02/05/08
Axon, the leading SAP Business Transformation consultancy, announces that its subsidiary Axon Solutions Inc. has acquired the business of EnterSys Group L.P., a leading provider of SAP consulting services to the oil, gas & chemical sector in North America.
The initial consideration is US$7.5m (£3.75m), payable in cash, which is approximately 0.3 times 2007 revenues of US$25m. In addition, deferred cash consideration payments of $7.5m (£3.75m) will be paid over the course of the next twelve months with up to $10.0m (£5.0m) payable in cash based on future business performance.
Texas-based EnterSys Group has a proven track record in the delivery of complex SAP solutions, leveraging SAP’s Oil & Gas Industry Solution (IS-Oil) for clients across the oil & gas value chain.
Steve Cardell, Chief Executive of Axon, said:
'Axon is already the largest independent SAP consultancy in the world, and we have driven significant growth in the Americas by leveraging our deep expertise in the Aerospace & Defence, Utilities, Transportation and Public Sector markets. The acquisition of EnterSys Group will create further opportunities for expansion into the Energy sector. I am delighted to welcome the partners and employees of EnterSys Group to Axon.'
Kevin Graybill, Partner of EnterSys Group said:
'The acquisition by Axon represents a fantastic opportunity for all of us at EnterSys Group to grow our business dramatically and to better serve our existing and future clients. We will be able to compete for larger enterprise deals at the major clients in our industry as well as targeting global opportunities. Axon’s 100% focus on SAP, the quality of their delivery track record, the completeness of their SAP value proposition, and the opportunities for our people were critical to making this acquisition happen.’
For further information please contact:
Axon
Steve Cardell/Iain McIntosh
01784 480 800
Bell Pottinger
Chris Hamilton/Mike Davies
020 7861 3232/07870 257 276
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