Booz Allen announces major split

May 17, 2008 at 8:06 PM

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.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Aetna to acquire Humana for $37 billion in cash, stocks
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules