SINGAPORE (Standard&Poor's) Aug. 27, 2008--Standard&Poor's Ratings Services said today that there is no impact on its ratings on Infosys Technologies Ltd. (BBB/Positive/--) following the company's recent announcement to acquire U.K.-based SAP consulting company Axon Group Plc in an all cash deal for £407.1 million. The proposed acquisition is subject to the Scheme of Arrangement becoming effective and is expected to be completed by November 2008. Infosys will be using its internal cash balance, which stood at about US$1.7 billion as of June 30, 2008. The acquisition is in line with the company's strategy to strengthen its consulting business and also its presence in Europe. While the acquisition may lower Infosys' liquidity, with its conservative financial profile,
