Monday, April 10, 2017

Ciber Files For Chapter 11 Bankruptcy, Seeks To Sell To Capgemini

Greenwood Village-based IT consulting and outsourcing provider Ciber said this morning that it has filed for Chapter 11 bankruptcy. According to the company, it has secured a commitment for up to $41M in debtor-in-possession (DIP) financing, to help it maintain its U.S. operations during the bankruptcy process. Ciber said the funding will help it accommodate an "orderly going-concern sale" of its operations. The company said it has already entered into a "stalking horse" purchase agreement with Capgemini to acquire substantially all of its assets in North America and India.