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October 29, 2010 2:37 PM

Cleary, MoFo Tapped for NTT Data's Merger with Keane

Posted by Brian Baxter

NTT Data, one of Japan's largest information technology service providers, has agreed to acquire leading IT outsourcing and computing consulting services company Keane Inc. for $1.2 billion, according to the Boston Globe.

News of the reported deal leaked last week. Under the terms of the merger agreement, Boston-based Keane will become a wholly owned subsidiary of NTT.

Cleary Gottlieb Steen & Hamilton M&A partners Ethan Klingsberg and Filip Moerman are leading a team from the firm advising Keane that includes employee benefits partner A. Richard "Brick" Susko, tax partner James Duncan, antitrust partner Leah Brannon, counsel Steven Kaiser, and IP counsel Daniel Ilan.

Keane is owned by Citigroup subsidiary Citigroup Venture Capital International Technology Holdings, which acquired Keane three years ago for $854 million in a leveraged buyout by its portfolio company Caritor. Cleary advised Citigroup on the deal.

Cleary has long served as one of Citigroup's lead outside firms. Last year corporate partner Edward Greene returned to the firm after serving as general counsel of Citigroup's Institutional Clients Group. (Former Citigroup chairman Robert Rubin is also a Cleary alum.)

John Dick, Keane's general counsel and a former partner at Pillsbury Winthrop Shaw Pittman, headed up an in-house team for the company on the deal.

Tokyo-based NTT turned to Morrison & Foerster for counsel on the Keane acquisition. M&A cochair Spencer Klein in New York led a team from the firm working on the deal. Klein also advised NTT this summer on its $199 million acquisition of Princeton-based IT consulting company Intelligroup.

The deal is expected to close in December, pending regulatory approvals.

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