Ciber Inc. (NYSE: CBR) reported in a filing with the US Securities and Exchange Commission that its Ciber Germany division on March 30 filed an insolvency proceeding in Cologne, Germany. The company in February agreed to sell its business in Germany and Denmark to Allgeier SE, a Munich-based IT staffing and software firm for an aggregate of approximately $8.8 million. However, the new insolvency proceeding is a “material adverse event” under the agreement, which permits Allgeier to terminate the agreement.

Ciber reported it has not received notice from Allgeier regarding termination of the agreement and if Allgeier remains interested in acquiring the assets of Ciber Germany, it must follow the process established in connection with the insolvency proceeding.

Allgeier reported it will offer to the insolvency administrator to continue talks about the asset deal that has already been envisaged.

“As before, Allgeier is prepared to offer customers and employees of Ciber Germany a rapid solution for the continuation and restructuring of the business,” Allgeier stated. “We will make direct contact with the insolvency administrator to this end.”

Ciber also announced that it completed the sale of its Infor division to the enterprise software firm Infor itself on March 31, according to a filing with the US Securities and Exchange Commission. The Greenwood Village, Colo.-based IT staffing solutions provider announced the $15.0 million transaction last month.