Perficient
Inc. (NASDAQ: PRFT), a leading information technology and management
consulting firm serving Global 2000 and other large enterprise customers
throughout North America, today announced it has completed the
acquisition of Zeon Solutions Incorporated and its subsidiary, Grand
River Interactive LLC, and an Indian affiliate (collectively, “Zeon
Solutions”). Details and terms of the acquisition were previously
announced on December 18th, 2014.
Additionally, Perficient expanded its existing credit facility. The
facility now provides for borrowings of up to $125 million, an increase
of $35 million over the previous availability. Wells Fargo Bank,
National Association is also now a lender to Perficient under the
facility.
“The expansion of our credit facility ensures we’ll continue to have the
financial flexibility necessary to invest in our business, execute
against our ongoing stock repurchase program, and continue our growth
strategy,” said Paul Martin, Perficient’s chief financial officer.
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 two offshore locations in 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 Service Provider and Gold Certified Partner; an
Oracle Platinum Partner; a Platinum Salesforce.com Cloud Alliance
Partner; a TeamTIBCO partner; and an EMC Select Services Team Partner.
For more information, visit www.perficient.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 2015. Those statements are subject to known and unknown
risks, uncertainties, and other factors that could cause the actual
results to differ materially from those contemplated by the statements.
The “forward-looking” information is based on management’s current
intent, belief, expectations, estimates, and projections regarding our
company and our industry. You should be aware that those statements only
reflect our predictions. Actual events or results may differ
substantially. Important factors that could cause our actual results to
be materially different from the forward-looking statements include (but
are not limited to) those disclosed under the heading “Risk Factors” in
our annual report on Form 10-K for the year ended December 31, 2013 and
in our quarterly report on Form 10-Q for the quarter ended June 30, 2014
and the following:
(1)
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the occurrence of any event, change or other circumstance that could
give rise to termination of the purchase agreement or a failure to
complete the proposed acquisition due to the inability of a party to
satisfy the conditions to closing the acquisition;
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(2)
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the possibility that we will not be able to realize the benefits of
the acquisition;
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(3)
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the possibility that our actual results do not meet the projections
and guidance contained in this news release;
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(4)
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the impact of the general economy and economic uncertainty on our
business;
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(5)
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risks associated with the operation of our business generally,
including:
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a. client demand for our services and solutions;
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b. maintaining a balance of our supply of skills and resources with
client demand;
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c. effectively competing in a highly competitive market;
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d. protecting our clients’ and our data and information;
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e. risks from international operations;
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f. obtaining favorable pricing to reflect services provided;
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g. adapting to changes in technologies and offerings;
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h. risk of loss of one or more significant software vendors; and
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i. implementation of our new Enterprise Resource Planning system;
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(6)
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legal liabilities, including intellectual property protection and
infringement or personally identifiable information;
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(7)
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risks associated with managing growth organically and through
acquisitions; and
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(8)
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the risks detailed from time to time within our filings with the
Securities and Exchange Commission.
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Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance, or achievements. This
cautionary statement is provided pursuant to Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. The forward-looking statements in this
release are made only as of the date hereof and we undertake no
obligation to update publicly any forward-looking statement for any
reason, even if new information becomes available or other events occur
in the future.
Copyright Business Wire 2015