PricewaterhouseCoopers firms complete acquisitions of BearingPoint assets in North America and Japan

Strategic acquisitions accelerate the growth of PwC's global Advisory business

NEW YORK, 16 JUN 2009 – PricewaterhouseCoopers LLP in the U.S has announced the completion of its purchase of the majority of BearingPoint's North American Commercial Services practice. With the completion of the transaction, PwC’s U.S. Advisory practice assumed selected contracts of BearingPoint and brought on 800 client service professionals with significant business and consulting expertise across multiple industries. PwC is gaining top-tier clients with a broad portfolio of multi-sector contracts in Commercial and Financial Services.

In addition, PricewaterhouseCoopers Japan also recently acquired BearingPoint's business in Japan, a leading business consulting and technology practice, under a transaction which closed on May 11, 2009. The acquisition of BearingPoint's consulting practice in Japan brought some 1,200 professional staff into PwC Japan and has positioned that firm as the leading provider of advisory services in Japan.

“These strategic acquisitions accelerate the growth of PricewaterhouseCoopers' Advisory business, increase our market share in the U.S. and Japan, and expand our ability to meet the needs of complex global organizations,” said Juan Pujadas, PwC's Global and US Advisory leader.

PwC U.S. has also agreed to acquire two Global Delivery Centers in Shanghai, China and Bangalore, India from BearingPoint. The acquisitions of those operations, expected to close in the coming months, will provide PwC U.S. clients with expanded global sourcing capabilities and competitive cost advantages.

BearingPoint, a global management and technology consulting company, filed for Chapter 11 bankruptcy protection on February 18, 2009 in the U.S Federal District Court.

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PricewaterhouseCoopers’ Advisory practice helps clients execute their business strategy. We advise and we implement – locally and globally. We help organisations capture opportunities, manage risk, navigate the unexpected and deliver lasting change.

About PricewaterhouseCoopers
PricewaterhouseCoopers provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 155,000 people in 153 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

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