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You are here:  Home / Business News / Booz Allen announces major split

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Booz Allen announces major split

Published: May 17, 2008 at 8:06 PM
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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 (NYSE:WPO) 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.



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