Perot Systems Corporation (NYSE: PER) today announced that it will acquire BearingPoint Management Consulting (Shanghai) ("BearingPoint China Consulting"), a leading management and technology consulting company with offices in Shanghai and Beijing.
This development follows the Sept. 21, 2009, announcement that Perot Systems will be acquired by Dell, a transaction that combines Perot Systems' services portfolio with Dell's global reach, significant existing services unit, and industry-leading hardware products. The overall combination will give enterprises in China access to a complete suite of IT, applications, business-process, and consulting services.
"BearingPoint China Consulting is highly respected for its consultancy services, and we are pleased to add their complementary expertise to our existing global consulting services," said Peter Altabef, president and CEO of Perot Systems. "Dell, Perot Systems, and BearingPoint China Consulting all have successful track records of catering directly to the needs of clients. Unifying our service operations will significantly expand our reach and enhance our capabilities in China."
Established in 2001, BearingPoint China Consulting provides deep industry and consultancy expertise to clients in China's energy, automotive, insurance, and financial services industries. As announced in June of 2009, Perot Systems recently has won key contracts in China's healthcare and manufacturing sectors.
"We are pleased to be joining Perot Systems, particularly given their momentum with recent contract wins in China and the Dell announcement," said Ron Machan, chairman and CEO of BearingPoint China Consulting. "Our clients and our consultants will benefit from the deep industry expertise, mature global delivery model, and strong financial position of Perot Systems. Our clients can be assured that we will continue delivering world-class service to our clients, and we will have the backing of two world leaders with unprecedented leadership of entrepreneurship, innovation, and real values."
The BearingPoint China Consulting operations will become part of the Perot Systems Commercial Solutions business unit. Steve Curts, president of Perot Systems Commercial Solutions, said, "We are committed to executing a smooth transition for our new clients and associates in China. The combined company will continue to work across a broad range of vendors and alliance partners to deliver efficient and effective solutions that address individual client needs."
BearingPoint China Consulting has earned numerous industry awards. In 2008, the China Software Association and ERP world.net ranked the firm among the "Top 10 IT Consulting Firms" in China, and named CEO Machan among the "Top 10 People of the Year in the IT Industry" in China. The firm also was chosen as "Most Trusted Consulting Firm" in 2007 by the China Enterprise Confederation.
Terms were not disclosed, and the transaction is subject to approval from the U.S. Bankruptcy Court and the Chinese government.