Southport Acquired By Perficient
7 Mile Advisors acted as the exclusive sell-side advisor to Southport Services Group in their sale to Perficient.
This acquisition will broaden Perficient’s data solutions capabilities by adding over 100 consulting, technology, sales and general administrative professionals.
CHARLOTTE, NC – Perficient, Inc. (NASDAQ: PRFT) (“Perficient”), the leading digital transformation consulting firm serving Global 2000 and other large enterprise customers throughout North America, announced it has acquired Southport Services Group, LLC, a Washington D.C.-based $17 million annual revenue MicroStrategy consultancy with deep expertise in analytics, business intelligence and data warehousing solutions.
The acquisition of Southport will broaden, and deepen, Perficient’s data solutions capabilities; as well as increase their presence in the Washington D.C. region. The acquisition will also include an additional location in Phoenix, and a global development center in Mexico City, Mexico. These additions will bring approximately 100 consulting, technology, sales and general administrative professionals to the Perficient team, as well as their strategic client relationships with Fortune 1000 customer across several industries.
“We are excited to strengthen Perficient further with the strategic acquisition of Southport,” said Jeffrey Davis, Perficient’s chairman and chief executive officer. “Today, it’s an enterprise imperative that organizations are capable of not only continuously capturing data, but also of interpreting and analyzing it properly to make informed real-time business determinations. Adding a quickly-growing and highly-regarded MicroStrategy partner like Southport enhances and expands our ability to thrill our customers with innovation and impact.”
Southport founders Jim Butz and Steve Thompson and partner John Bavis each join Perficient in key leadership roles.
Perficient is well known for its expertise across many technology platforms and is widely-regarded as one of the largest and most capable digital transformation consulting firms in the country,” said Butz. “Joining the Perficient team accelerates our collective opportunities for continued growth and success.”
7 Mile Advisors, a Charlotte, NC based boutique investment bank, acted as the exclusive sell-side advisor to Southport Services Group throughout the transaction; marking their 36th successful transaction in the digital transformation space.
“Enterprises are increasingly finding ways to monetize their data by promoting brand loyalty, driving go-to-market strategy, and enhance internal business planning.” said John Cooper, 7 Mile Advisors Director. “And let’s not forget the technological advances through the rise of AI/machine learning, deep data mining, and prescriptive and predictive analytics that are all working to enable this monetization. We have seen this as a clear catalyst to deal activity in the space.”
7 Mile Advisors’ laser focus on the Business Services & Technology space allows for deep insight and knowledge of M&A activity in the ecosystems in which it plays, much of which is described in our sector-specific research reports. Additionally, 7 Mile Advisors regularly releases blogs to disseminate market insights, including our most recent post “Analytics is about Intelligence.”.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About Southport Services Group
When it comes to building business intelligence solutions, you won’t find a company with more experience than Southport. Since 2005, we have delivered over 450 MicroStrategy projects to over 500,000 end-users representing companies from every industry vertical. As a preferred MicroStrategy partner, all of our consultants are vendor-certified by MicroStrategy and our expertise enables us to deliver more complete solutions faster, cheaper and with less risk than you will find anywhere in the market. We also provide complete data integration, data warehousing, and data migration services. For more information visit www.southportsg.com.
Perficient is the leading digital transformation consulting firm serving Global 2000® and enterprise customers throughout North America. With unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Our work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Perficient’s professionals serve clients from a network of offices across North America and offshore locations in India and China. Traded on the Nasdaq Global Select Market, Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. Perficient is an award-winning Platinum Level IBM business partner, a Microsoft National Service Provider and Gold Certified Partner, an Oracle Platinum Partner, an Adobe Premier Partner, and a Platinum Salesforce Consulting Partner. For more information, visit www.perficient.com.