Perficient,
Inc. (NASDAQ: PRFT) (“Perficient”), a leading information technology
and management consulting firm serving Global 2000 and other large
enterprise customers throughout North America, today announced it has
acquired the IBM Smarter Commerce division of Trifecta Technologies
(“Trifecta”), an $8 million annual services revenue business and
information technology consulting firm focused on IBM WebSphere Commerce
solutions.
Perficient’s annualized revenues now exceed $450 million, and the
transaction is expected to be accretive to adjusted earnings per share
immediately.
“We’re excited to add to our IBM commerce capabilities with the
acquisition of a talented team of commerce experts,” said Jeffrey Davis,
Perficient’s chief executive officer and president. “With this addition,
Perficient has strengthened our ability to deliver larger, more powerful
commerce solutions for our enterprise customers.”
“Today’s empowered consumers expect brands to provide a unified and
consistent experience across all channels – websites, kiosks, mobile
phones and the customer service center. Clients are under increased
pressure to rethink their commerce strategies to provide dynamic and
compelling experiences on secure and scalable platforms,” said John
Jenkins, vice president of Perficient’s IBM national business unit.
“Trifecta’s exemplary IBM WebSphere Commerce expertise and award-winning
commerce offering enhance Perficient’s ability to deliver comprehensive,
fast, flexible and cost-effective omni-channel commerce solutions to our
clients, helping them transform the consumer relationship through
personalized experiences.”
The acquisition:
-
Deepens and expands Perficient’s existing omni-channel commerce
industry business processes and best practices, which complements the
company’s existing offerings;
-
Strengthens Perficient’s overall IBM partnership and capabilities by
bringing extensive experience and intellectual property assets in the
implementation, integration, migration, and hosting of IBM commerce
solutions;
-
Adds more than 40 consulting, technology, sales and support
professionals; and
-
Adds client relationships with leading enterprise customers including
BonTon, Cardinal Health, Carhartt, Perfumania, Sears Canada, Tandus,
Varsity Wacoal, and many others.
Trifecta Vice President Kevin Doyle joins Perficient in a key leadership
role.
“Perficient is highly regarded as one of IBM’s most established and
capable business partners,” said Doyle. “We’re thrilled to join the
Perficient team, combining our commerce expertise and experience with
their wide-ranging IBM capabilities to deliver high-value solutions.”
The closing consideration paid in the transaction is approximately $13.7
million and includes approximately $12.7 million in cash and
approximately $1.0 million worth of Perficient common stock (based on
the average closing price of Perficient’s common stock on the NASDAQ
Global Select Market for the 30 trading days immediately preceding the
acquisition closing date per the terms of the acquisition agreement).
This amount is subject to change based on net working capital
adjustments determined in the months following the closing date.
Perficient’s newly–expanded IBM Commerce team will be present at IBM’s
2014 Smarter Commerce Summit, held May 13-15 at the Tampa Convention
Center. IBM’s Smarter Commerce Summit is the global event for technology
and business leaders looking to transform business processes that help
companies buy, market, sell and service their products and services.
During the summit, the Perficient team will serve as a gold sponsor and
have a presence in Booth G-1. Experts will discuss how Perficient draws
on its collective experience to provide a complete
marketing-to-fulfillment set of solutions that utilizes the core
features of the IBM Smarter Commerce Portfolio.
Randy Grigg, managing partner of Ridgecrest Advisors, advised Perficient
on the transaction in his capacity as a registered investment banking
agent of M&A Securities Group, Inc.
About Perficient
Perficient is a leading information technology and management consulting
firm serving Global 2000 and enterprise customers throughout North
America. Perficient’s professionals serve clients from a network of
offices across North America and three offshore locations, in Eastern
Europe, India, and China. Perficient helps clients use Internet-based
technologies to improve productivity and competitiveness, strengthen
relationships with customers, suppliers and partners, and reduce
information technology costs. Perficient, traded on the Nasdaq Global
Select Market, is a member of the Russell 2000® index and the S&P
SmallCap 600 index. Perficient is an award-winning “Premier Level” IBM
business partner, a Microsoft National Systems Integrator and Gold
Certified Partner, an Oracle Platinum Partner, a Gold Salesforce.com
Cloud Alliance Partner, a TeamTIBCO partner, and an EMC Select Services
Team Partner. For more information, please visit www.perficient.com.
About Trifecta Technologies IBM Smarter Commerce Division
Now in its third decade, Trifecta develops innovative, high-value
web-based business solutions using the latest eCommerce, cloud, web
application and mobile technologies. The IBM Smarter Commerce division
of Trifecta is amongst a select group of IBM Smarter Commerce Authorized
partners, with a rich history of helping clients achieve great success
selling online. Trifecta has offices in the technology corridor in
eastern Pennsylvania’s Lehigh Valley, Toronto, Ontario, Canada and in
Visakhapatnam, India. To learn more, visit http://www.trifecta.com.
Safe Harbor Statement
Some of the statements contained in this news release that are not
purely historical statements discuss future expectations or state other
forward-looking information related to financial results and business
outlook for 2014. Those statements are subject to known and unknown
risks, uncertainties, and other factors that could cause the actual
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