Wednesday, February 7, 2007

Caritor Acquires Keane For $854M

San Ramon-based Caritor, a provider of global IT services, and Keane, inc. said today that Caritor will acquire Keane for $854M in cash. The deal is worth $14.30 per share in cash for each share of Keane common stock. The transaction is being financed by Citigroup Venture Capital International, along with debt from Citigroup Global Markets, UBS Securities, and Bank of America Securities. Both firms provide IT and and business process outsourcing to US companies.