Perficient Acquires Northridge Systems, Adds To SharePoint Expertise3:11 PM EST Mon. Jul. 02, 2012
Solution provider Perficient has acquired Northridge Systems, an Atlanta-based business and technology consulting company with expertise in building collaboration solutions based on Microsoft's SharePoint software.
Perficient paid approximately $14.4 million to acquire Northridge, including $10.6 million in cash and approximately $3.8 million in Perficient common stock, the St. Louis-based company said Monday.
The acquisition expands Perficient's presence in the southeastern U.S., particularly in the important Atlanta and Charlotte markets, Perficient said. It also adds a number of high-profile customers to the company's client roster including Allstate, Chick-fil-A, Electrolux, Georgia-Pacific, Lowe's and Time Warner Cable.
[Related: VAR CEOs See More M&A Madness Ahead]
The acquisition also brings more than 90 consulting, technology, sales and support professionals to Perficient. Northridge Co-Founder and CEO Rob Patten will join Perficient in what the companies described as "a key leadership role," reporting to Aaron Sloman, general manager of Perficient's Microsoft National Business Unit.
"Perficient is well known for its expertise across many technology platforms and is widely-regarded as one of the largest and most capable Microsoft systems integrator partners in the country," said Patten, in a statement. "Joining the Perficient team accelerates our collective opportunities for continued growth and success."
Perficient is designated by Microsoft as a "national systems integrator partner," a designation held by some of the vendor's largest partners, and is certified Gold or Silver in more than a dozen Microsoft technologies.
"Already one of the largest Microsoft NSIs in the country, we're pleased to deepen our capabilities even further through the addition of Northridge," said Jeffrey Davis, Perficient's chief executive officer and president, in a statement. "Northridge brings meaningful services expertise, critical mass in the southeastern U.S. and a proven track record of growth, profitability and client satisfaction." The acquisition will bring Perficient's annual sales to approximately $350 million, the company said. Perficient is No. 82 on this year's Solution Provider 500, CRN's annual ranking of the top solution provider organizations in North America.
"With Microsoft's Worldwide Partner Conference just days away, we're thrilled to announce this strategic expansion of our Microsoft practice," said Kathy Henely, Perficient's chief operating officer, in a statement. "Northridge excels at delivering collaborative technology solutions that drive workforce productivity and brand experience solutions that drive customer loyalty. We see significant opportunity to leverage their expertise within our existing client base."
Perficient has been active on the acquisition front lately. In June, Perficient bought Dallas-based Nascent Systems LP, a services and technology consulting firm with Oracle E-Business Suite expertise, for $18.1 million. And in February, Perficient acquired Chicago-based PointBridge, another Microsoft NSI, for $22 million.
PUBLISHED JULY 2, 2012