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Perficient, Inc.
Company typePrivate
Nasdaq: PRFT
IndustryConsulting
Founded1997; 27 years ago (1997)
HeadquartersSt. Louis, Missouri, U.S.
Area served
Worldwide
Key people
Tom Hogan (CEO)
RevenueIncrease US$907 million (2023)[1]
Decrease US$138 million (2023)[1]
Decrease US$98.9 million (2023)[1]
Total assetsIncrease US$1.06 billion (2023)[1]
Total equityIncrease US$531 million (2023)[1]
Number of employees
7,000 approx
ParentEQT AB

Perficient, Inc. is a global digital consultancy company based in St. Louis, Missouri.[2] The company's efforts include enterprise mobile applications, creative services, marketing, digital strategy,[3] Internet of Things,[4] information technology, management consulting, custom development, and platform implementations.

The firm primarily performs project-based work, a large portion of which involves business intelligence and portal collaboration. Perficient also has global capabilities.[5][6]

History

[edit]

The company was founded in Austin, Texas in August 1997 by Bryan Menell. The first investors in the company were Steve Papermaster and David Lundeen. The company secured its first channel partnership with Vignette, a provider of content management systems.

The company held its initial public offering (IPO) on July 29, 1999. In December 1999, the company completed its first acquisition of LoreData based in New London, Connecticut. In May 2000, Perficient acquired Compete, Inc.[7]

In 2001, Vertecon Inc. was acquired.[8]

Jack McDonald became CEO of Perficient in 1999 and chairman in 2001. McDonald served in both positions until 2009.[9] According to the St. Louis Business Journal in August 2009, "during the second quarter, Perficient lost $196,000 on $44.9 million in revenue, compared with a $3.9 million profit on $59.1 million in revenue during the same period last year" (in 2008).[10]

Jeffrey Davis became Perficient's COO in 2001 and president in 2003.[11] Davis was named CEO in September 2009.[10] During Davis' tenure as CEO, the firm transitioned from the Nasdaq SmallCap Market to the Nasdaq Global Select Market.[5] In October 2023, Jeffrey Davis became the executive chairman for Perficient, turning over the chief executive officer position to Tom Hogan. [15]

In May 2024, Perficient agreed to be acquired by Swedish private equity firm EQT AB in a $3 billion all-cash deal.[12] The deal was completed in October 2024.[13]

Acquisitions

[edit]
Company Date
LoreData December 1999
Compete, Inc.[7] May 2000
Vertecon [8] October 2001
Javelin Solutions [14] October 2001
Genisys Consulting, Inc.[15] April 2004
Meritage Technologies [16] June 2004
Zetta Works, LLC [17] March 2005
iPath Solutions [18] June 2005
Vivare [19] September 2005
Bay Street Solutions [20] April 2006
Insolexen [21] May 2006
EGG [22] July 2006
E Tech Solutions[23] February 2007
Tier 1 Innovation, LLC [24] June 2007
BoldTech Systems, Inc [25] September 2007
ePairs[26] November 2007
Kerdock Consulting[27] March 2010
speakTECH [28] December 2010
Exervio, Inc.[29] April 2011
JCB Partners LLC[30] July 2011
Point Bridge Solutions[31] February 2012
Nascent Systems[32] June 2012
Northridge[33] July 2012
Core Matrix Systems[34] May 2013
TriTek Solutions[35] May 2013
ForewardThink Group[36] February 2014
BioPharm Systems[37] April 2014
Zeon Solutions, Inc.[38] January 2015
Market Street Solutions, Inc.[39] September 2015
Enlighten[40] December 2015
Bluetube[41] October 2016
RAS & Associates[42] January 2017
Clarity Consulting [4] June 2017
Southport Services Group[43] April 2018
Stone Temple Consulting Corporation[44] July 2018
Elixiter, Inc.[45] October 2018
Sundog Interactive [46] May 2019
MedTouch LLC[47] January 2020
Brainjocks[48] March 2020
PSL[49] June 2021
Talos Digital[50] September 2021
Overactive[51] October 2021
Inflection Point Systems[52] September 2022
Ameex [53] October 2022
SMEDIX, Inc.[54] January 2024

Global expansion

[edit]

Perficient has been expanded into multiple regions such as the North America, Latin America, Europe, and Asia with more than forty office locations around the globe. The company has acquired firms across the globe to widen their presence. With their expansion in Colombia, Perficient increased their global capabilities and now has offices in Argentina, Chile, Colombia, and Uruguay. Perficient has offices in five major cities in India: Bangalore, Chennai, Hyderabad, Nagpur and Pune.[55] Perficient also has European offices in Serbia, Romania, and the United Kingdom.

References

[edit]
  1. ^ a b c d e "2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 27, 2024.
  2. ^ Feldman, Jess (March 12, 2021). "How Perficient and Hackbright Academy are Changing the Ratio". www.perficient.com.
  3. ^ Whiting, Rick (14 October 2016). "5 Companies That Came To Win This Week". CRN.
  4. ^ a b Jones, Donovan (2017-06-23). "Perficient Acquires Clarity Consulting For Microsoft Expertise". Seeking Alpha.
  5. ^ a b Perficient, Inc. President And CEO Jeff Davis Interviews With The Wall Street Transcript The Wall Street Transcript[dead link] Mar 7, 2011
  6. ^ "Magento Partners with Adobe to Redefine Commerce Experience".
  7. ^ a b Newswires, Bob SechlerDow Jones (2000-02-17). "Perficient Plans to Acquire Compete for up to $63 Million". Wall Street Journal. ISSN 0099-9660.
  8. ^ a b "Vertecon purchased by Austin IT firm". www.bizjournals.com. 2001-10-03.
  9. ^ "exhibit992.htm". www.sec.gov. Retrieved 2019-06-26.
  10. ^ a b "Rahul c s CEO of Perficient". St. Louis Business Journal. August 5, 2009.
  11. ^ "Perficient, Inc. - Jeff Davis". The Wall Street Transcript. 2011-03-07.
  12. ^ "EQT to buy digital consultancy Perficient for about $3 billion". Reuters. 5 May 2024.
  13. ^ "EQT Completes Acquisition of Perficient". Businesswire. October 2, 2024.
  14. ^ "Perficient to acquire consulting firm". Austin Business Journal.
  15. ^ "Perficient buys Illinois company for $7.9M". Austin Business Journal.
  16. ^ "Perficient acquires Columbus company". Austin Business Journal.
  17. ^ "Perficient completes ZettaWorks purchase". Austin Business Journal.
  18. ^ "Austin IT consulting firm buys iPath for $7.9M". Houston Business Journal.
  19. ^ "Perficient buys Dallas IT consulting firm". Austin Business Journal.
  20. ^ "Perficient to buy Bay Street Solutions". Austin Business Journal.
  21. ^ "Perficient buys Michigan firm for $13 million". Austin Business Journal.
  22. ^ "Perficient Expands Portfolio with EGG Acquisition". www.tmcnet.com/. 2006-07-21.
  23. ^ "Perficient Acquires E-Tech Solutions, Inc". www.perficient.com. 2007-02-21.
  24. ^ "Tier1 Innovation sells for $14.3M". Denver Business Journal.
  25. ^ "Perficient buys privately held BoldTech for $21 mln". Reuters.
  26. ^ "Perficient Acquires ePairs, Inc". www.perficient.com. 2007-11-23.
  27. ^ "Perficient buys Kerdock Consulting". St. Louis Business Journal.
  28. ^ "Perficient buys speakTECH for $15M". St. Louis Business Journal.
  29. ^ "Perficient buys Exervio for $13.6M". St. Louis Business Journal.
  30. ^ "Perficient buys JCB in $18 million deal". St. Louis.
  31. ^ Brown, Lisa (2012-02-09). "Perficient buys PointBridge Solutions". St. Louis Post-Dispatch.
  32. ^ Whiting, Rick. "Perficient Expands Its Oracle EBS Expertise With Nascent Buyout | CRN". www.crn.com.
  33. ^ Whiting, Rick. "Perficient Acquires Northridge Systems, Adds To SharePoint Expertise | CRN". www.crn.com.
  34. ^ "Perficient acquires CoreMatrix for $21.5 million". St. Louis Business Journal.
  35. ^ Whiting, Rick. "Perficient Picks Up TriTek, Extends IBM Service Offerings | CRN". www.crn.com.
  36. ^ Kuranda, Sarah. "Financial Services Play: Perficient Acquires ForwardThink Group For $46 Million | CRN". www.crn.com.
  37. ^ Vexler, Liisa (April 10, 2014). "Biopharm Systems Acquired By Perficient". Clinical Leader.
  38. ^ "Perficient to acquire Zeon Solutions for $35.7 million". St. Louis Business Journal.
  39. ^ "Perficient buys Tennessee IT firm for $5.3 million". St. Louis Business Journals.
  40. ^ Feldt, Brian (December 4, 2015). "Perficient acquires Michigan digital marketing firm". St. Louis Business Journal.
  41. ^ Feldt, Brian (October 13, 2016). "Perficient acquires Atlanta digital consulting agency". St. Louis Business Journal.
  42. ^ Novinson, Michael. "Perficient Buys $9M Management Consultancy to Drive End User Technology Investments | CRN". www.crn.com.
  43. ^ Feldt, Brian (2018-04-03). "IT consultant Perficient buys East Coast data analytics firm". STLtoday.com.
  44. ^ Feldt, Brian (2018-07-16). "Town and Country-based Perficient buys Stone Temple consultants". STLtoday.com.
  45. ^ Johnson, O’Ryan. "Perficient Boosts Marketing Automation Services With Acquisition Of Elixiter | CRN". www.crn.com.
  46. ^ Nelson, T. J. (2019-05-13). "Sundog Sold To St. Louis-Based Perficient". KVRR Local News.
  47. ^ "Perficient Announces Acquisition of MedTouch". www.perficient.com.
  48. ^ "Perficient Announces Acquisition of Brainjocks". www.nasdaq.com. March 23, 2020.
  49. ^ Trumbull, Ty (2020-06-22). "Perficient Acquires Software Development Firm PSL -". ChannelE2E.
  50. ^ Rubbelke, Nathan (September 8, 2021). "Perficient expands with acquisition of Colombian software firm Talos Digital". St. Louis Business Journal.
  51. ^ "Perficient acquires nearshore software development firm Overactive". www.perficient.com. 2021-10-15.
  52. ^ Rubbelke, Nathan (September 7, 2022). "With latest deal, digital consultancy Perficient adds a new country to its growing global operations". St. Louis Business Journal.
  53. ^ "Perficient Announces Acquisition of Ameex Technologies". www.perficient.com.
  54. ^ Rubbelke (October 20, 2023). "Perficient to acquire San Diego firm in deal that also expands global operations". St. Louis Business Journal.
  55. ^ "Perficient Expands Global Delivery Center Locations in India". www.perficient.com/.
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