KEANE Shareholders Approve Merger Agreement with Caritor
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Shareholder Vote Signals Strong Support for Acquisition
BOSTON, May 15: Keane, Inc., (NYSE:KEA), a leading business process and IT services firm, announced that at a special meeting of shareholders today Keane shareholders voted to adopt the merger agreement pursuant to which Caritor, Inc., a global provider of IT services, would acquire Keane. The shareholder vote is a condition to the closing of the acquisition. The acquisition is subject to satisfaction of additional customary closing conditions including, but not limited to the delivery to Caritor's prospective debt lenders for the merger of audited financial statements for the fiscal year ended December 31, 2006, as well as specified financial statements for subsequent periods, and the accuracy of Keane's representations and warranties in the merger agreement. Keane's ability to satisfy these closing conditions may be affected by Keane's ongoing review of its historical stock option practices and the results of this review.
About Keane
In business since 1965, Keane, Inc. (NYSE:KEA) is a leading business process and IT services firm. Keane delivers Application and Business Process Services to help clients transform their business and IT operations to achieve demonstrable, measurable, and sustainable business benefit. As a trusted advisor and partner for its clients, Keane solves real business issues through the development and implementation of cost-effective, change-oriented, industry-specific solutions.
Specifically, Keane delivers highly synergistic application and business process services, including Application Development and Integration Services, Architecture Services, Application Outsourcing, Program Management, and Testing, as well as Business Transformation Services including Business Process Outsourcing. Keane believes that business and IT improvements are best realized by streamlining and optimizing business and IT processes, implementing rigorous management disciplines, and fostering a culture of accountability through meaningful performance metrics. Based in Boston, Mass., Keane delivers its services throughout the United States, Australia, Canada, India, and the United Kingdom. For more information, visit http://www.keane.com/.
Source: Keane, Inc.
CONTACT: Larry Vale, Investor Relations, +1-617-517-1290, Danielle Wuschke, Public Relations, +1-617-517-1445, both of Keane, Inc.
Web site: http://www.keane.com/
