BearingPoint, Inc. today announced that it has entered into definitive agreements with PricewaterhouseCoopers LLP (PwC), under which PwC will acquire a significant portion of BearingPoint’s North American Commercial Services business and associated Global Delivery Centers for $25 million.
This sale is expected to be completed on or before June 30, 2009, and is subject to the satisfaction of customary closing conditions and the rules of the bankruptcy court, which, among other things, require that BearingPoint must consider all “higher or better” offers from other potential buyers and obtain court approval. There can be no assurance that the proposed sale will be approved by the court or that the transaction will be completed.
In addition, BearingPoint previously announced on March 23, 2009, that it had entered into a definitive agreement to sell a significant portion of its North American Public Services business to Deloitte LLP for $350 million, subject to adjustment. On April 17, 2009, the court approved this sale, which remains subject to the satisfaction of closing conditions. There can be no assurance that the transaction will be completed.
About BearingPoint, Inc.
BearingPoint, Inc. (OTCBB: BGPTQ) is one of the world's largest providers of management and technology consulting services to Global 2000 companies and government organizations in more than 60 countries worldwide. Based in McLean, Va., the firm has approximately 15,000 employees focusing on the Public Services, Commercial Services and Financial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to “next-generation” technology. For more information, visit the Company's Web site at www.BearingPoint.com.
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