Dallas (ots) - BearingPoint, Inc., the management and technology
consulting firm, announced today that it has completed the sale of
the Company's Europe, Middle East and Africa (EMEA) practice to
its European management team for an aggregate price of approximately
$69 million in total consideration.
Following the transaction, the EMEA practice will operate as an
independent, private partnership and will continue to serve clients
under the BearingPoint brand. Peter Mockler, who has been serving as
the EMEA leader for BearingPoint since 2006, and his management team
will continue to lead the organization, providing leadership
stability and continuity in the transition process.
"We are very pleased to finalize the purchase of BearingPoint
EMEA and look forward to continuing to serve our valued clients for
many years to come," said Peter Mockler. "The EMEA leadership team
and approximately 3000 consultants are dedicated to the success of
our business and remain steadfast in our commitment to providing
leading- edge management and technology consulting services to our
clients. We are confident that this is the best path forward for our
clients and employees, as many examples have shown that the private
business model makes sense for a professional services firm."
About BearingPoint, Inc.
BearingPoint, Inc. is a provider of management and technology
consulting services to commercial and public sector organizations
around the world. BearingPoint professionals have built a reputation
for knowing what it takes to help clients achieve their goals, and
working closely with them to get the job done. The Company's service
offerings are designed to help its clients generate revenue,
increase cost-effectiveness, manage regulatory compliance, integrate
information and transition to next-generation technology. For more
information, visit the Company's Web site at www.BearingPoint.com .
Some of the statements in this press release constitute "forward-
looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. These statements are based
on our current expectations, estimates and projections. Words such as
"will," "expects," "believes" and similar expressions are used to
identify these forward-looking statements. These statements are only
predictions and as such are not guarantees of future performance and
involve risks, uncertainties and assumptions that are difficult to
predict. Forward-looking statements are based upon assumptions as to
future events or future financial performance that may not prove to
be accurate. Actual outcomes and results may differ materially from
what is expressed or forecast in these forward-looking statements.
As a result, these statements speak only as of the date they were
made, and the BearingPoint, Inc. undertakes no obligation to publicly
update or revise any forward- looking statements, whether as a result
of new information, future events or otherwise.
ots Originaltext: BearingPoint, Inc.
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Director Marketing & Communications EMEA