Keane Announces Acquisition of Advanced
Solutions Inc.
Firm Augments Keane's NYC Branch e-Solutions Capabilities
BOSTON, March 2, 1999
Leading IT consulting firm Keane, Inc. (AMEX: KEA) today announced it
has acquired all of the outstanding capital stock of New York City-based
Advanced Solutions Inc., a privately-held information technology solutions
and applications development firm that specializes in e-commerce and
advanced technologies. Financial terms of the acquisition agreement
were not disclosed.
Advanced Solutions Inc. assists clients in gaining a competitive edge by
providing application solutions in e-commerce, enterprise resource
planning (ERP) integration and supply chain management. The company
has extensive architectural and design expertise, having developed
innovative applications in Oracle, Java, C++, and other object-oriented
tools, as well as experience in integrating web-based applications with
ERP applications such as SAP.
"This is a great acquisition for Keane," said Brian Keane, office of the
president for Keane, Inc. "Advanced Solutions will significantly enhance
Keane's e-commerce and advanced technology solutions capability in the
New York City area market. We believe this positions Keane well to
compete in some of the fastest growing segments in today's IT market."
About Keane, Inc.
Headquartered in Boston, Massachusetts, Keane is a $1B firm that helps
companies plan, build and manage application software to achieve
business advantage. Keane does this by adhering to rigorous process
and management disciplines and performance metrics incorporated in its
core IT solutions. Keane's services include operations improvement and
IT consulting, custom application development, e-solutions, customer
relationship management (CRM), data warehousing, and application
outsourcing. These services are delivered through a network of more than
45 branch offices in North America and the United Kingdom. Information
about Keane, which was named the Wall Street Journal's Best 10-Year
Stock Performer in 1998, is available at www. keane. com.
This press release contains forward-looking statements that involve a
number of risks and uncertainties, including statements regarding the
future benefits Keane expects to derive as a result of the Advanced
Solutions Inc. acquisition. There are a number of factors that could cause
actual results to differ materially from those indicated. Such factors
include without limitation, Keane's success in integrating Advanced
Solutions into its own operations and the various factors set forth under
the caption, "Certain Factors That May Affect Future Results" in Keane's
annual report on Form 10-K for the year ended December 31, 1997,
which important factors are incorporated herein by reference.