EQT Asia Set to Purchase Perficient for Approximately Billion

Perficient, Inc. (Nasdaq: PRFT), a prominent global digital consultancy, is set to be acquired by EQT Asia, an affiliate of BPEA Private Equity Fund VIII, as part of a definitive agreement. The deal, valued at approximately .0 billion, will be an all-cash acquisition.

Under the terms of the agreement, Perficient shareholders will receive .00 in cash for each share of common stock they own at the close of the transaction. This represents a significant premium of 75% over Perficient’s stock price on the day prior to the announcement of the acquisition and a 51% premium over the company’s 30-day volume-weighted average share price up to that point.

Chairman of the Board of Perficient, Jeffrey Davis, expressed that the decision to enter into this agreement was carefully considered to maximize value for the company and its shareholders. He emphasized Perficient’s commitment to delivering innovative solutions to its clients, and highlighted the opportunity for shareholders to receive a compelling cash value for their shares through the acquisition by EQT Asia.

President and CEO of Perficient, Tom Hogan, acknowledged the dedication of the company’s employees in reaching this milestone and expressed excitement for the future partnership with EQT Asia. He noted the alignment in vision between Perficient and EQT Asia, emphasizing the potential for continued growth and success on a global scale.

EQT’s Partner, Hari Gopalakrishnan, commended Perficient’s strong track record in digital consulting and expressed confidence in the company’s potential for future growth. He highlighted EQT’s experience in investing in the digital technology space and reiterated their commitment to supporting Perficient in enhancing its industry position.

The transaction has received unanimous approval from Perficient’s Board of Directors and is expected to close by the end of 2024, pending regulatory approvals and approval from Perficient stockholders. Following the completion of the acquisition, Perficient will transition to a private company, with Tom Hogan remaining as CEO and the company’s headquarters staying in St. Louis.

In light of the pending merger, Perficient has canceled its planned conference call for the first quarter of 2024 financial results, which can be accessed through the company’s Investor Relations website. The acquisition by EQT Asia marks a significant chapter in Perficient’s journey towards continued growth and innovation in the digital consulting industry.