facebook
twitter
rss
account
search
search
 

Booz Allen announces major split

May 17, 2008 at 8:06 PM   |   Comments

WASHINGTON, May 17 (UPI) -- The U.S consulting firm Booz Allen Hamilton Inc. says it is separating, with private-equity firm Carlyle Group buying its government division for $2.54 billion.

The split of the McLean, Va., company has paved the way for the pairing of two of the region's biggest private businesses, The Washington Post reported Saturday.

Booz Allen employs 13,000 people and is a top provider of services to the federal government. Carlyle, headquartered in Washington, is a global private equity investment firm with $81.1 billion under its supervision, the Post said.

"Continuing to operate their business as they have will generate a level of growth that will get us the increase in value we're hoping to achieve," said Peter Clare, Carlyle managing director.

Booz Allen had been considering a major reformation for at least two years before announcing the split, the Post said.

© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback