BearingPoint Sells Units Amid Bankruptcy Reorg

Technology consulting firm BearingPoint Inc. (BGPTQ.OB) has agreed to sell its key units, a month after filing for Chapter 11 bankruptcy.

The company, whose expertise mostly lies in the billing and OSS sectors, will sell the North American Public Services Unit to Deloitte LLP for $350 million. Deloitte will use the purchase to expand its federal government services capabilities.

BearingPoint also plans to sell the North American Commercial Services division – which contains the financial services branch – to PricewaterhouseCoopers (PWC) for $25 million. PWC further will buy BearingPoint’s consultancy in Japan.

The two pending deals must be approved by a bankruptcy court.

Meanwhile, BearingPoint is trying to get rid of several other units, including those in Europe and Latin America.

Auditing firm KPMG LLC created BearingPoint in 1999 as a spinoff. The consulting company has been known for its federal government focus but its clients do include Time Warner Cable Inc.

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