BearingPoint’s 200-strong Irish operation is participating in a major management buyout (MBO) of the big four consultancy giant’s EMEA practice, a move that will create a €500m IT consultancy player.
The Irish operation will be part of a BearingPoint international organisation which employs 3,250 people and has revenues in excess of €500m. BearingPoint in Ireland recorded revenues of €30m in 2008.
Peter Minogue, managing director of BearingPoint Ireland and Martin McKenna (head of financial services) have taken an equity stake in the new European organisation.
“We see this is a highly positive move for our clients and staff as it gives us more control and flexibility in the Irish market while remaining part of an international organisation,” Minogue explained.
“The change in ownership also adds a strong entrepreneurial dimension to the BearingPoint brand,” he added.
BearingPoint EMEA is now run by its European management team and owned by its more than 120 Partners in 14 countries across 25 offices including Dublin.
BearingPoint was formerly KPMG Management Consultants. The organisation has been in Ireland for 40 years. BearingPoint in Ireland specialises in consultancy and technology services across commercial, public sector and financial services.
It has developed key offerings in ERP implementations, systems integration and application management services underpinned by strong process and business consulting skills.
In Ireland a key specialisation is agile development, a technology process which is designed to deliver IT faster and more cost effectively than traditional software implementation.
“The partner led structure will further boost the traditionally strong performance and client driven culture of BearingPoint and thus add even more value for the client,” added Peter Mockler, who has been serving as the EMEA leader for BearingPoint since 2006 and will continue to lead the organisation.
By John Kennedy
Pictured: Irish investors in the BearingPoint management buyout, Peter Minogue, managing director and Martin McKenna, head of financial services