Keane buys Advanced Solutions
Boston-based IT consulting firm Keane acquires Advanced Solutions, a privately-held software and applications development firm that specializes in e-commerce.
Keane did not disclose financial details of the deal, which involved the purchase of all of Advanced Solution's outstanding capital stock.
This latest acquisition is part of Keane's aim to smoothly transition from helping corporations comply with Year 2000 bug issues to a broader IT consulting and services business.
In January, the company bulked up its data warehousing talents by scooping up privately-held Emergent, a Menlo Park, California-based data warehousing services company with $4 million in 1998 revenue.
New York City-based Advanced Solutions, founded in 1993, is expected to boost Keane's offerings in the areas of e-commerce, enterprise resource planning (ERP), and supply chain management. Advanced Solutions develops applications in Oracle, Java, C++, and other object-oriented tools, and has experience in integrating Web-based applications with ERP applications such as SAP. Keane executives said the acquisition will help improve its New York-based sales.
On an uptick, Keane reported that non-Year 2000 related revenues and bookings continued to rise during the fourth quarter of 1998, for which the company posted results that met Wall Street analysts expectations.
The $1 billion company's fourth quarter revenues were $293.8 million, up 40 percent from $209.6 million last year.