Huge Contract For AXON

morning all......another company purchase......and the market leaders in 2 more verticals..........what an xmas pressie....................


;-)))))))))))))))

Axon Group PLC
21 December 2005





Axon Group plc

Axon acquires US-based TUI Consulting

Axon Group plc ('Axon'), the leading Business Transformation consultancy for
large corporations that have chosen SAP as their strategic enterprise platform,
announces that it has agreed to acquire the business of TUI Consulting, the
leading provider of SAP consulting services to US utilities and public sector
organisations. The initial deal consideration is US$9.5m (£5.4m), to be
satisfied in cash, which is approximately one-times TUI's 2006 order book
revenues plus a deferred consideration of $2.25m (£1.3m) to be satisfied, at
Axon's option, in either cash or Axon shares.

Axon has previously demonstrated its commitment to building deep vertical market
expertise through the successful integration of Feanix inc, the Aerospace and
Defence specialists, in April 2005, and the acquisition of the TUI business
provides Axon with further opportunities in fast growing US Utilities and Public
Sector markets.

TUI was formed in 1996, and it is built around a solid team of 50 experienced
consultants who initially implemented SAP for major utilities in the Asia
Pacific region prior to moving on to deliver a number of leading-edge SAP
programmes throughout the United States and Canada. Whilst TUI was ranked #355
in the 2004 Inc 500 list of fastest growing private companies in the US, the
delay in new contract wins in 2004 meant that, in the twelve months ended 31
March 2005, TUI delivered revenues of $9.5m (£5.4m) and incurred a loss before
tax of $1.2m (£0.7m). However, during the course of 2005, TUI's focused
execution meant that it has won several client contracts such that it has
secured a profitable order book for 2006.

Mark Hunter, Chairman and CEO of Axon said:
'TUI has an enviable reputation in the US utilities and public sector markets,
and Axon is the leading SAP Partner in the US Aerospace and Defence sector. The
combination of our two businesses will enhance our ability to deliver major
transformation programmes for large corporations that have chosen SAP as their
strategic enterprise platform. We look forward to continuing to build our US
capability in order to deliver both local programmes but also to support the
increasing number of global programmes we are undertaking.'

Todd Crandall, EVP of TUI added:
'TUI has grown to be the leading provider of SAP Services in the US Utilities
and Public Sector markets and we are delighted to be joining Axon. The TUI
business now has a great opportunity to strengthen further as a result of Axon's
Business Transformation brand and capabilities. The cultural, organisational and
operational fit between the two businesses means that we can immediately take
full advantage of the continued upturn in the US Consulting market.'