Keane Reaches Agreement to Acquire Portions of BearingPoint Commercial Business in North America
08 July 2009
Boston, MA – July 08, 2009 - Keane, Inc., a global services firm that specializes in optimizing businesses’ IT investments, today announced that it has entered into an asset purchase agreement with BearingPoint, Inc. to purchase a portion of the BearingPoint Commercial business in North America. Finalization of this transaction is subject to customary closing conditions and securing approval by the court overseeing BearingPoint’s bankruptcy restructuring.
“We welcome the skilled people of BearingPoint to the Keane team,” said Mani Subramanian, Chairman and CEO of Keane Inc. “This agreement underscores our commitment to optimizing our clients IT investments by delivering solutions that emphasize local accountability and a flexible mix of global resources. We feel the strong talent coming from BearingPoint is a synergistic match with our deep onsite knowledge and hands-on approach to delivering high value, meaningful and measureable results.”
Mr. Subramanian continued by saying, “We are also excited about the new clients this acquisition brings and pledge to them that we will earn their respect and the continuation of these relationships into the future.”
“Keane’s ability to optimize our clients’ IT investments is possible because of our focus on developing and delivering high quality, repeatable services and solutions,” explained Marv Mouchawar, EVP of Keane’s Global Practices & Products. “This focus is driven by our Practice Groups which enables Keane to offer an impressive range of core application services, supported by our infrastructure services and business process outsourcing offerings.”
Pending approval and consummation of the transaction, Keane and BearingPoint are working together to help ensure a seamless transition for clients and employees, including the continuity of existing engagement teams, to provide uninterrupted, world-class IT services. Subject to customary closing conditions, the sale is expected to be finalized by mid-July.
About Keane
Keane partners with businesses and government agencies to optimize IT investments by delivering exceptional evolution, operation, and maintenance of mission-critical systems and business processes. A US company with a large offshore capability, Keane combines local knowledge and local senior leadership with scalable global delivery that results in low-risk, actionable, cost-effective services and solutions – and a partnership that feels like an extension of your organization.
In business since 1965, Keane is an agile, full-service IT services firm headquartered in the United States with approximately 12,000 employees globally. For more information on Keane’s services, solutions, products, and locations, please visit www.keane.com.
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