Perficient, a Prominent Microsoft Solution Provider, Buys Another in PointBridge for $22 Million
Deal expands Perficient’s sales geographic sales reach, adds enterprise clients and technical, consulting, sales and support professionals.
Perficient Inc., a publicly-held, $260 IT solutions provider based St. Louis, MO, said it will pay $22 million in stock and cash for PointBridge Solutions LLC, a Chicago, IL-based business and technology consulting specialist in collaboration, unified communications and business intelligence.
Under terms of the agreement, Perficient will pay $14.4 million in cash and about $7.6 million worth of Perficient common stock for PointBridge, which generated $17 in annual revenue for services primarily leveraging Microsoft Corp. technologies. The deal is expected to bump Perficient’s annualized sales to more than $300 million and be accretive to earnings per share immediately.
Both Perficient and PointBridge are highly regarded Microsoft National Systems Integrators (NSI). Perficient also is a Microsoft Gold Certified partner, an IBM Corp. premier business partner and an Oracle Corp. certified partner. Perficient also is regarded as experts in consumer-driven healthcare technology.
“Like Perficient, PointBridge is an award-winning Microsoft NSI partner and we’re pleased to add their proven sales and delivery teams, attractive services offerings, and impressive client roster and bill rates in this well-structured transaction,” said Jeffrey Davis, Perficient’s chief executive officer and president.
The PointBridge acquisition is Perficient’s fifth in the past two years, previously buying JCB Partners LLC for $18 million in July, 2011, Exervio Inc. for $13.6 million in April, 2011, Speaktech for $15 million in December, 2010, and Kerdock Consulting for $6 million in March, 2010.
Since 2005, including PointBridge, Perficient has acquired 12 companies at a total cost of $158.6 million.
Mike Gersten, PointBridge co-founder and chief executive, will join Perficient in a key leadership role, reporting directly to Aaron Sloman, general manager of Perficient’s Microsoft business group. Todd Golden, a PointBridge partner, also will join Perficient.
“Perficient is well known for its expertise across many technology platforms and is regarded as one of the finest Microsoft National Systems Integrator partners in the country,” said Gersten.
“This transaction accelerates our collective opportunity to become the leading Microsoft consulting firm in the country,” he said.
Perficient said that the acquisition will boost its market presence in Chicago, Milwaukee and Boston, add some 130 consulting, technology, sales and support professionals and enterprise clients, including
Perficient already lists among its key clients AT&T, Bank of America, Boy Scouts of America, Coca-Cola, Duke Energy, Family Dollar, Lowe’s, Piedmont Natural Gas and Wells Fargo.