KPMG Consulting, Inc. today announced that it has entered into a definitive agreement to acquire KPMG Consulting AG (KCA), the German, Swiss and Austrian consulting units of KPMG DTG for $685 million. With 2001 gross revenue of approximately $540 million and approximately 3,200 professionals, the transaction provides KPMG Consulting with immediate critical mass in one of Europe’s largest and most important IT services markets. The transaction is consistent with KPMG Consulting’s strategy to broaden its global footprint, maximize its Global 2000 account penetration and to add new long-term relationships with leading multinational companies. With the addition of KCA, KPMG Consulting gains a talented and disciplined team of professionals with a proven record of delivering profitable growth.
“We are delighted to welcome one of Europe’s marquee systems integration businesses into the KPMG Consulting family,” said Rand Blazer, Chairman and CEO of KPMG Consulting. “Together with our recently-announced Letter of Intent to acquire a number of independent Andersen Business Consulting units, the acquisition of KCA represents a significant extension of our global presence and a powerful addition to our company’s European portfolio. Further, we expect this transaction to be accretive to KPMG Consulting’s earnings.”