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IT Firm Ciber Inc. files for Chapter 11 Bankruptcy

IT Firm Ciber Inc. files for Chapter 11 Bankruptcy

Author: Joel R. GlucksmanDate: May 30, 2017

The company took a buyout offer of $50 million for its North American and India assets from France's Capgemini. The bankruptcy filing is an effort to begin the intended process to make room for the sale of the business' operations.

The company was founded in 1974 and operates in the U.S., U.K. and Denmark. It also has centers in India, Vietnam and Poland, according to the Denver Post. After growing through acquisitions, Ciber employed nearly 8,600 people at one point. However, due to the decline in IT demand and performance in the European market, Ciber took a shot financially, which lead to its request for bankruptcy protection.

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