KPMG Plans to Hire Andersen Employees
Dow Jones/Associated Press
KPMG Consulting Inc. agreed to bring on board 140 partners and 1,400 workers from the U.S. consulting arm of troubled rival Arthur Andersen in a deal worth about $63 million.
KPMG, based in McLean, Va., said it expects the latest deal to add $65 million to revenue in the first quarter of fiscal 2003. KPMG posted revenue of $2.9 billion in fiscal 2001, which ended last June 30.
The move falls under a plan KPMG announced in May to acquire up to 23 independent Andersen consulting units. KPMG previously signed definitive agreements to acquire Andersen consulting practices in Japan, Norway, Finland, Switzerland and Sweden.
The company did not say which Andersen locations were being acquired in the deal.
