Bearingpoint Agrees to Sell It's Government Operations

Bearingpoint agreed to sell its government operations to international consulting giant Deloitte, a deal that would significantly expand Deloitte’s presence in the federal market, industry observers said. Under the terms of the agreement, Deloitte would acquire almost all of BearingPoint’s government operations for $350 million. BearingPoint was 93rd on Government Executive’s list of top federal contractors, with more than $516 million in revenue for fiscal 2007. Bearing- Point filed for Chapter 11 bankruptcy in February. It also signed a letter of intent to sell a “substantial portion” of its commercial services business to Pricewaterhouse Coopers for $25 million.

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