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Expanding BearingPoint reports record revenues

Pan-European technology services firm BearingPoint has announced record revenues of €739m for 2018. The core consulting business recorded 6% growth compared to 2017, with the software solutions business growing “slightly slower than in previous years”, it said.

The Dutch-headquartered business expanded in its European core territory. The firm opened an office in Luxembourg where it has been supporting clients since 2001. It also made a strategic move in the Belgian consulting market by acquiring Inpuls, a data specialist, thereby doubling its size in Belgium.

The regions FBA (France, Benelux, Africa) and the UK and Ireland “stood out with strong growth far above the market average”, said the firm.

Managing partner of the business Kiumars Hamidian said: “We were able to continue our path of sustainable and profitable growth in 2018 and reached the highest revenue ever. We started to make adjustments to our long-term strategy and the execution of this strategy will allow for more success and further growth in the upcoming years.”

As part of its Ventures activities, it made a strategic investment in Insignary, a global player in binary-level open source software security and compliance, which had partnered with BearingPoint before. It marked the firm’s first investment in an Asian start-up.

At the end of 2018, it set up a new Business Services unit. BearingPoint Business Services “delivers managed services beyond SaaS”. The unit has 100 experts delivering services ranging from the Logistic Emission Calculator, LogEC, to HyperCube, a platform for advanced analytics and predictions.