KPMG Consulting Inc. announced today that it has signed a definitive agreement to acquire the business consulting unit of Arthur Andersen y Cia in Spain. The acquisition is expected to close August 1st.
The business consulting unit of Arthur Andersen y Cia in Spain has 22 partners and approximately 750 professionals and generated over $50 million in net revenues in FY01. The transaction is pursuant to KPMG Consulting’s announcement May 8th that it had signed a Letter of Intent to acquire a number of independent Andersen business consulting units worldwide.
Separately, KPMG Consulting has also completed the acquisition of the business consulting unit of the Switzerland member firm of Andersen Worldwide. This business consulting unit has 9 partners, approximately 160 professionals and generated over $25 million in net revenues in FY01.
Discussions to acquire the Business Consulting Practices of other Andersen member firms are continuing.