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Keane agrees to buy some of BearingPoint commercial business in North America

09 July 2009  |  1427 views  |  0 Source: Keane

Keane, a global services firm that specializes in optimizing businesses' IT investments, today announced that it has entered into an asset purchase agreement with BearingPoint, 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 measurable 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.

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