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BearingPoint Awarded Coast Guard Financial Management Blanket Purchase Agreement...
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BearingPoint Awarded Coast Guard Financial Management Blanket Purchase Agreement Valued up to $104 Million Award Follows Earlier Five-Year ICE Financial Management Contract Valued up to $47.7 Million MCLEAN, Va.--(Business Wire)-- BearingPoint, Inc. (NYSE:BE), one of the world's largest management and technology consulting firms, today announced it is one of five firms awarded a five-year Blanket Purchase Agreement (BPA) by the U.S. Coast Guard (USCG) for financial management support services. The BPA is valued up to $104 million and follows a similar financial services support award to BearingPoint by the Department of Homeland Security's Immigration and Customs Enforcement (ICE) agency that is valued up to $47.7 million including all options. Under the USCG BPA, BearingPoint will compete for task orders to work with the USCG's Office of Financial Policy and Systems and Office of Financial Transformation and Compliance on a wide range of services. Specifically, BearingPoint task orders under the BPA will allow it to assist the Coast Guard with: -- Improving internal controls and accountability over financial business processes; -- Strengthening the Coast Guard's financial reporting policies and procedures; and -- Transforming human resource strategy to improve the Coast Guard's financial management workforce. Contracted work is expected to be performed at USCG offices in Washington, D.C., Maryland, Virginia, North Carolina, Kansas and California. This is BearingPoint's second recent financial services support award within DHS. In late March, BearingPoint was awarded a one-year contract valued at $8.7 million in its base year, and up to $47.7 million total over five years (including all options) to assist ICE with its financial management systems. As part of this contract, BearingPoint is providing a number of technology and strategy consulting services including general business process improvements, training and compliance support surrounding financial data verification/validation, accounts payable accruals, financial audit, development and maintenance of an activity-based costing model, and support for ICE's Finance Center located in Dallas, Texas. "We're proud to be chosen by the Coast Guard and by ICE to assist in transforming their financial processes," said Tim Chase, vice president for BearingPoint's National Security practice. "Helping these DHS agencies meet financial compliance requirements in a more efficient way means more resources can be devoted to identifying criminal activities and eliminating vulnerabilities along our nation's borders and coastlines." About BearingPoint, Inc. BearingPoint, Inc. (NYSE:BE) is one of the world's largest providers of management and technology consulting services to Global 2000 companies and government organizations in more than 50 countries worldwide. Based in McLean, Va., the firm has more than 16,000 employees focusing on the Public Services, Commercial Services and Financial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to "next-generation" technology. For more information, visit the Company's Web site at www.BearingPoint.com. Some of the statements in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. BearingPoint, Inc. Steve Lunceford Director, Global Communications 703-747-4545 Steve.firstname.lastname@example.org Copyright Business Wire 2008