China : Perot Systems Will Buy BearingPoint s China Consulting Business.Byline: Mamta03 Perot Systems Corp., the computer- services provider being acquired by Dell Inc., will buy BearingPoint Inc. s consulting practice in China to expand in the world s third-largest economy. Terms of the deal weren t disclosed, Plano, Texas-based Perot Systems said today in a statement. BearingPoint China Consulting, established in 2001, has about 300 consultants and offices in Shanghai and Beijing. Dell, the world s second-largest maker of personal computers, announced plans last month to buy Perot Systems for $3.9 billion, or $30 a share, to bolster its computer-services business. BearingPoint China Consulting, which has clients in the energy, automotive, insurance and financial-services industries, will become part of Perot Systems commercial solutions business unit, Perot said. BearingPoint was spun off from accounting firm KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen LLP LLP - Lower Layer Protocol in 2000 and filed a so-called prepackaged bankruptcy Prepackaged Bankruptcy When acompany prepares a reorganization plan that is negotiated and voted on by creditors and shareholders before the company actually files for bankruptcy. plan in February. The company won approval in April to sell most of its assets to Deloitte LLP, and in August announced a deal to sell its European unit to BE Partners BV. BearingPoint sold its financial-services unit to PricewaterhouseCoopers LLP. Perot Systems said its takeover of BearingPoint s China consulting business is subject to approval from the U.S. bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. and the Chinese government. Perot Systems, whose shares have more than doubled this year, fell 6 cents to $29.76 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. on Oct. 9. Dell, based in Round Rock, Texas, fell 1 cent to $15.81 in Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. trading. The shares have gained 54 percent in 2009. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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