refresh

Mergers & Acquisitions

Learn More

Private Capital Raises

Learn More

Market Assessments & Valuations

Learn More

Business Services & Technology

Learn More

Industrial Services & Technology

Learn More

Healthcare and Life Sciences

Learn More

Consumer Services & Technology

Learn More

International Markets

Learn More

Insurance Services & Technology

Learn More

Quarterly Reports

Learn More

Sectorwatches

Learn More

Whitepapers

Learn More

Newsletters

Learn More
Deal Talk with 7MA

Your resource for invaluable insight into investment banking and the M&A space.

Learn More
Deal Us In

Conversation with women leaders and rising stars in the private equity and finance space.

Learn More
Perficient has acquired E-Tech Solutions

Perficient has acquired E-Tech Solutions

A Principal Of 7 Mile Advisors Acted As The Buy-Side Advisor To Perficient In Their Acquisition Of E-TEch Solutions


Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm serving Global 2000 and other large enterprise  customers throughout the United States, has acquired E-Tech Solutions, Inc., a solutions-oriented IT consulting firm with approximately $10 million in annual revenues. The transaction is expected to increase  Perficient’s annualized revenues to just under $200 million – with nearly 1,100 consulting, technology, sales and support professionals in 16 offices in the United States and Canada. The acquisition was expected to be accretive to earnings per share immediately.

“This acquisition brings to Perficient a Mid-Atlantic base and a  substantial client roster as well as significant consulting, sales, delivery and management talent,” said Jack McDonald, Perficient’s chairman
and chief executive officer, at the time of the acquisition. “This is another important step in our growth plan as we continue to execute
aggressively against our strong acquisition pipeline and organic growth goals.”

“Leveraging a full suite of business-driven technology solutions and services across an expanding base of local offices and loyal, long-term clients is core to our growth strategy and this transaction supports that effort,” said Jeff Davis, Perficient’s president and chief operating  officer. “E-Tech’s solutions portfolio deepens Perficient’s competencies in several areas including business architecture, user experience, mobility solutions and around disciplines including portal, business intelligence and commerce.”

The acquisition of E-Tech.:
• Deepened Perficient’s expertise in several key solution areas;
• Expanded Perficient’s national footprint and built an immediate presence in the Mid-Atlantic, a key expansion region comprised of several top-tier technology markets;
• Added nearly 80 consulting, technology, sales and support professionals;
• Added client relationships with enterprise customers including  Amerisource Bergen, Aramark, Bank of America, Fidelity Information Services, Johnson and Johnson, NASA, and many others;
and
• Presented the potential to utilize Perficient’s branch network and client relationships to provide additional opportunities for E-Tech’s solution offerings.

“Joining Perficient provides us a real opportunity to accelerate the success and momentum of our business,” said Paul Elisii, chief executive officer of E-Tech. “This development is the culmination of years of entrepreneurial team effort as well as the beginning of our opportunity to do something much bigger with E-Tech’s solutions and services portfolio.”

Elisii will join Perficient in a key leadership role, serving as a General Manager, reporting directly to Chris Gianattasio, Perficient’s Regional Vice-President of Field Operations.

The consideration paid in the transaction was approximately $12.2 million excluding transaction costs, and included $6.1 million in cash and approximately $6.1 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 thirty trading days immediately preceding the acquisition close per the terms of the acquisition agreement).
GAAP accounting required using the closing price of the Company’s common stock at or near the close date in reporting the value of the stock consideration paid in the acquisition.
The acquisition was the ninth since 2004 for Perficient. In 2004, the company acquired Chicago-based Genisys Consulting, Inc.,  Cincinnati-based Meritage Technologies, Inc., and Houston-based ZettaWorks LLC. In 2005, Perficient acquired Houston-based iPath Solutions, Ltd., and Dallas-based Vivare, LP. In 2006, Perficient acquired San Francisco-based Bay Street Solutions, Inc., Detroit-based Insolexen Corp., and the Energy, Government and General (EGG) Business Division of Digital Consulting and Software Services, with offices in Houston, Atlanta and New Orleans.

About Perficient

Perficient is a leading information technology consulting firm serving Global 2000 and other large enterprise customers throughout the United States. Perficient helps clients gain competitive advantage by using Internet-based technologies to make their businesses more responsive to market opportunities and threats, strengthen relationships with customers, suppliers and partners, improve productivity and reduce information technology costs. Perficient is a member of the Russell  2000® index and is traded on the Nasdaq Global Select MarketSM, a market for public companies that meet the highest listing standards in the world. Perficient is an award-winning “Premier Level” IBM  business partner, a TeamTIBCO partner, a Microsoft Gold Certified Partner, a Documentum Select Services Team Partner and an Oracle-Siebel partner. For more information about Perficient, which employs more than 1,000 professionals, please visit www.perficient.com. IBM and WebSphere are trademarks of International Business Machines Corporation in the United States, other countries, or both.

About E-Tech Solutions, Inc.

What makes E-Tech Solutions truly unique is the balance struck between top-tier technology innovations and focused customer-centric service. E-Tech’s eBusiness and Infrastructure capabilities are on par with top-ranking national players, but they maintain a concentrated individual focus that allows for greater personal contact and interaction. E-Tech is a leading provider of eSolutions through its life cycle services approach including teams focused on Business Architecture, User Experience, eBusiness Solutions, Mobility Solutions, and Infrastructure Management. The Company maintains offices in suburban Philadelphia, Pennsylvania, and Houston, Texas and has clients throughout the world.

A Principal of 7 Mile Advisors acted as the buy-side advisor to Perficient..

Login

Don't have a login? Create an account