CMA of Latham, NY has acquired BearingPoint’s public service operation in New York. The financial terms have yet to be disclosed however, CMA will be awarded the carry-over of active projects of BearingPoint including projects with the New York State Department of Health and the New York State Office of Mental Health.
CMA believes the acquisition of BearingPoint’s operations in New York will provide a great opportunity to add resources and expertise. 14 BearingPoint employees have been hired by CMA adding to their 300+ person staff.
BearingPoint has been selling its assets under bankruptcy reorganization protection after filing for bankruptcy under the pressure of a $1 billion debt.
BearingPoint has previously sold off its Brazilian operation to CSC as well as public services business in North America to Keane Inc., its commercial services unit to Pricewaterhouse Copper LLP, and its largest business segment, its North American public services practice to Deloitte LLP.