Keane, Inc., a provider of outsourcing and information technology consulting services, has acquired public services business in North America from BearingPoint, Inc., a provider of management and technology consulting services. Both Keane and BearingPoint are based in the US.
Announcement (June 23, 2009):
Keane has entered into an asset purchase agreement with BearingPoint, to acquire BearingPoint public services business in North America, including BearingPoint's New York City practice.
BearingPoint had filed for Chapter 11 bankruptcy protection on February 18, 2009 and is selling substantially all of its businesses as part of its restructuring plan.
The transaction is expected to close by end of June 2009.
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Completed: 2009-07-13
Target (Company) BearingPoint, Inc. - Public Services
Acquirer (Company) Keane, Inc.
Vendor (Company) BearingPoint, Inc.
The transaction would enable Keane to enhance its presence and its profile in serving public sector clients in New York, US.