On March 23, BearingPoint announced an update to its reorganization plan involving the planned sale of substantially all of its businesses to a number of parties. On this page, you will find a variety of resources regarding BearingPoint's business transition. If you can't find the details you need via this site, please use the contacts listed to request additional information.
Public Services - On May 8, BearingPoint closed the sale of its North American Public Services business to Deloitte LLP. Under the terms of the transaction, Deloitte acquired the majority of the Public Services unit for $350 million.
Commercial Services - On June 15, BearingPoint completed the sale of a significant portion of its North American Commercial Services business to PricewaterhouseCoopers (PwC) for approximately $44 million.
Global Practices - BearingPoint completed the sale of its Japan practice to PwC Japan on May 11. On July 17, the company entered into a definitive agreement with its European management team for the sale of its EMEA practice. Under terms of the agreement, the practice will become a legally independent entity owned by EMEA management, operating under the BearingPoint brand. The sale, which is subject to the satisfaction of certain conditions and Court approval, is expected to be completed by the end of August. In addition, the company is in discussions regarding potential sales of other parts of the business to local management or other buyers. There can be no assurance that we can enter into a definitive agreement regarding such sales or that a transaction will be completed.
Previously, on February 18, 2009, BearingPoint filed a Chapter 11 restructuring plan with the U.S. Bankruptcy Court for the Southern District of New York.
Additional Information
Press Release (7/17/2009): BearingPoint Signs Definitive Agreement with European Management Team for Sale of Europe, Middle East and Africa Practice
Press Release (6/16/2009): BearingPoint Closes Sale of Commercial Services Business to PwC
Press Release (5/28/09): BearingPoint Commercial Services Business Approved for Sale to PricewaterhouseCoopers
Press Release (5/8/2009): BearingPoint Closes Sale of Public Services Business to Deloitte
Press Release (4/17/2009: BearingPoint Signs Definitive Agreements with PricewaterhouseCoopers for Sale of Commercial Services Practice
Press Release (3/23/2009): BearingPoint Reaches Agreement To Sell Key Business Unit
