UK buy bolsters India's Infosys

Infosys is one of the "big three" Indian outsourcers

Shares in Indian outsourcing giant Infosys have risen after it said it had agreed to buy UK consulting firm Axon Group for £407.1m ($753m).

Axon shares also got a boost from the deal, which should give Infosys access to new European clients.

The Indian firm relies on the US for around 60% of its business but wants to cut this to 40% as the downturn hits outsourcing deals.

Its 560 clients include Goldman Sachs, Philips Electronics and ABN Amro.

On Tuesday, Axon reported a 21% rise in pre-tax profit to £16.3m in the first half of the year.

The acquisition is expected to be completed in November.

Infosys shares rose more than 2% on the Mumbai stock exchange, while Axon rallied 20.4%, or 102.5 pence, to 605 pence in London.