HCL Axon, a division of Indian IT services vendor HCL Technologies, has acquired the Enterprise Solutions SAP practice of South Africa-based UCS Group for $7.7m.
HCL said the acquired practice has 67 employees and offers Tier 1 retail and wholesale SAP project implementations.
The total deal value could go up to $18.5m, according to Ram Krishna, vice president and head of enterprise business a HCL Technologies, who said UCS will receive additional annual payments of between $2m and $6.5m from HCL by July end 2011 if the business meets certain revenue targets.
Steve Cardell, president at HCL Axon, said: "We have a stated strategy to bring strong customer-focused vertical propositions and have identified the retail market as a major opportunity. Completing this partnership accelerates our ability to offer the market a combination of extensive SAP IS retail capability and track record which coupled with our own retail experience creates a compelling customer proposition."
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