BearingPoint gets $44 million for commercial services, delivery center

By Caroline Salls

Pittsburgh, May 29 - BearingPoint, Inc. received court approval of the $44 million total sale of significant portions of its North American Commercial Services practice and its Shanghai global delivery center, as well as its Bangalore, India, global delivery center to PricewaterhouseCoopers LLP and a subsidiary, according to a PricewaterhouseCoopers news release.

The North American Commercial Services business sale is expected to close in June, subject to customary closing conditions. The closings for the two global delivery centers are expected to take place in the coming months.

"The addition of these assets and consulting resources of BearingPoint's North American Commercial Services practice is part of our long-term plan to support the strategic growth of our leading advisory business," PricewaterhouseCoopers Global and U.S. Advisory leader Juan Pujadas said in the release.

Upon closing of the Commercial Services acquisition, PricewaterhouseCoopers said its advisory practice will assume selected contracts and assets of BearingPoint.

BearingPoint, a McLean, Va.-based provider of management and technology consulting services, filed for bankruptcy on Feb. 18 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 09-10691.

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