CVCI-Backed Keane Adds On

Keane Inc., a business process outsourcing company backed by CVCI, has acquired part of BearngPoint’s commercial business in North America. The deal comes one week after Keane purchased part of BearingPoint’s public sector business. No financial terms were disclosed.

PRESS RELEASE

Keane, Inc., a global services firm that specializes in optimizing businesses’ IT investments, today announced completion of its purchase of portions of the BearingPoint Commercial business in North America. Keane also announced last week its completion of acquiring portions of BearingPoint’s Public Sector business as well. Collectively, these acquisitions bring more than 100 professionals who enrich and expand the current industries and capabilities Keane currently offers.

“This acquisition aligns very well with our strategic service capabilities,” said Mani Subramanian, Chairman and CEO of Keane. “It demonstrates our continued commitment to local knowledge and local, accountable leadership that leverages our flexible offshore and nearshore capabilities. This acquisition further strengthens what differentiates Keane in the marketplace.”

Mr. Subramanian went on to say, “The talented individuals joining Keane as part of this acquisition have tremendous depth of skill across the application services area and in key verticals such as Insurance, Life Sciences, Manufacturing, and the Public Services sector. The abilities they bring will deepen our services portfolio, while the relationships they manage will contribute to our continued growth.”

“Keane’s overall business portfolio is solid and very well positioned to capitalize on the opportunities we see in 2009 and beyond. With this transaction we’re bolstering our Enterprise Application Services Practice, an area that the company has been, and will continue to invest in moving forward,” commented Marv Mouchawar, EVP of Keane’s Global Practices and Products organizations. “This Practice is focused on delivering services to clients with enterprise application software such as SAP supporting their business. Our approach is to maximize the value of these IT investments through superior evolution, operation, and maintenance and through the addition of Business Intelligence services that can provide the business insight critical to our clients’ long term success.”

About Keane

Keane partners with businesses and government agencies to optimize IT investments by delivering exceptional evolution, operation, and maintenance of mission-critical systems and business processes. A US company with a large offshore capability, Keane combines local knowledge and local senior leadership with scalable global delivery that results in low-risk, actionable, cost-effective services and solutions — and a partnership that feels like an extension of your organization.

In business since 1965, Keane is an agile, full-service IT services firm headquartered in the United States with approximately 12,000 employees globally. For more information on Keane’s services, solutions, products, and locations, please visit www.keane.com.