July 13, 2018 / 6:06 AM / 6 days ago

France's Altran discovers forgery within recently acquired U.S. group Aricent

July 13 (Reuters) - French technology consultancy Altran Technologies said on Friday it has discovered a case of forged purchase orders within its recently acquired U.S. design and engineering services firm Aricent.

The forgery “relates to one individual, in his relation with one client” for an amount of $10 million, Altran said, adding that an investigation into Aricent’s internal control procedures has been launched.

The incident, which occurred between the third quarter of last year and the first quarter of 2018, is not expected to have a material impact on its first-half financial results, the French company added.

Last year’s acquisition of the California-based company from a group of investors led by KKR is the largest of a series of deals done by Altran.

Reporting by Charlotte Steenackers, Editing by Sherry Jacob-Phillips

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