Ciber files for Chapter 11 bankruptcy
Information technology company Ciber Inc said on Monday that it and some of its US units filed for bankruptcy protection under Chapter 11 in the US bankruptcy court in the District of Delaware.
Earlier on Monday, Capgemini agreed to act as the stalking horse acquirer and buy the North American operations of Ciber for $50 million, which excludes the company's international operations and some liabilities.
The company listed assets in the range of $50 million to $100 million and liabilities in a similar range, according to the filing.
Ciber has received a commitment for up to $45 million in debtor-in-possession financing, which will be used to maintain its US operations during the Chapter 11 process, the company said in a statement.
In October last year, Ciber said it was exploring strategic alternatives for the company.