HCL Technologies and Infosys are vying to make the largest acquisition by an Indian IT outsourcing company as they bid against each other to buy Axon, the UK-based consultancy group.

HCL on Friday launched an all-cash offer for Axon, valuing the company at £441m ($811m). The offer trumped a £407m bid by Infosys, which had received the backing of Axon’s board and big shareholders.