Axon, the UK IT services group, is set to fall into the hands of HCL Technologies after its Indian rival, Infosys Technologies, pulled out of the race.

Infosys had agreed a 600p a share bid with Axon, a specialist in providing consulting services based on business software created by Germany’s SAP, in late August. However, it was trumped by a 650p-a-share offer from smaller rival HCL last month.