Deloitte closes BearingPoint practice buy

Deloitte LLP has closed its purchase of BearingPoint’s North American Public Services practice, Deloitte officials said today.

The New York technology consulting company acquired BearingPoint’s public sector practice out of bankruptcy for $350 million cash in an arrangement announced in March.

BearingPoint, of McLean, Va., also made arrangements at the time to sell most of its North American commercial business, including its financial services unit, to PriceWaterhouseCoopers LLP for $25 million.

Kramer Levin Naftalis and Frankel LLP provided legal counsel to Deloitte in the matter, and Houlihan Lokey served as Deloitte’s financial advisor on the transaction, the officials said.

At the time of sale, BearingPoint had about 15,000 employees serving the public, commercial and financial services industries. About 4,250 BearingPoint employees were subsequently hired by Deloitte.

Deloitte is a unit of Deloitte and Touche USA LLP. The parent company ranks No. 51 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.

About the Author

William Welsh is a freelance writer covering IT and defense technology.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More


    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.