Keane has agreed to buy BearingPoint’s Public Services business in North America which includes the BearingPoint New York City practice. BearingPoint filed Chapter 11 bankruptcy in February 18, 2009 and is selling almost all of its assets as part of a reconstruction plan. The agreement between the two US-based companies is still pending approval from BearingPoint’s restructuring court but finalization is expected by the end of June 2009.
A smart move for Keane, the BearingPoint agreement will strengthen its local and state business.“As we continue to build out our presence servicing State and Local governments, the acquisition of this key practice allows us to accelerate our growth plans by providing us the immediate ability to serve the great City of New York with extraordinary people, “noted Executive Vice President of Keane’s Public Sector organization, Brian Mandel.
Keane and BearingPoint will work together over the full transition process to ensure BearingPoint clients and employees a smooth, simple, and seamless transition with the continuity of existing engagement teams.”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, ” commented Mani Subramanian, Chairman and CEO of Keane Inc.
A partner of business and government agencies, Keane delivers evolutional and operational maintenance of mission-critical systems and business processes to optimize IT Investments in the US and abroad.