Axon Group, a UK-based implementer of SAP AG ERP products, plans to raise 30m pounds with an initial public offering on the London Stock Exchange next months which will value the company at around 100m pounds. The placing will raise around 14m pounds for the company and 16m pounds for existing shareholders. Since its formation in 1994, Axon has expanded rapidly and almost doubled revenues last year to 20m pounds and reported pre-tax profits of 2.5m pounds. Axon has evolved three other lines of business on top of its SAP implementations. It offers a support and outsourcing service, a range of bestoke products and processware business and an e-commerce business.
