PricewaterhouseCoopers complete acquisitions of BearingPoint for $44 million

US-based PricewaterhouseCoopers LLP(PwC) today disclosed its completion of the purchase of a majority stake BearingPoint's North American Commercial Services practice for $44 million.

The US Bankruptcy Court for the Southern District of New York approved the transaction on May 28, 2009.

With this acquisition PwC will acquire two GlobalDelivery Centers (GDCs); one in Shanghai, China and one in Bangalore, India from BearingPoint.

PwC's advisory practice has assumed selected contracts of BearingPoint and brought on 800 client service professionals with business and consulting expertise spread across different industries.

The acquisition will provide PwC clients with expanded global sourcing capabilities and competitive cost advantages. PwC said in a statement it was gaining top-tier clients with a broad portfolio of multi-sector contracts in commercial and financial services.

"This strategic acquisition accelerates the growth of PwC's Advisory business, increases our market share in the U.S. and expands our ability to meet the needs of complex global organizations," said Juan Pujadas, PricewaterhouseCoopers' Global and U.S. Advisory leader.