Microsoft Dynamics AX started out as Axapta originally developed by IBM and Damgaard as IBM Axapta. IBM returned all rights in the product to Damgaard shortly after the release of Version 1.5.. Damgaard subsequently merged with Navision Software A/S in 2000. The combined company acquired by the Microsoft Corporation in the summer of 2002. Navision Damgaard Axapta was first renamed to Microsoft Business Solutions Axapta, then to Microsoft Dynamics AX in 2009.
The new name for Axapta is Microsoft Dynamics AX. All lterature refers to Dynamics AX even though many people still call it Axapta. Follow this link for information regarding Hosted Axapta.