Leading solution provider Perficient Inc. has acquired Nascent Systems LP in a move that will expand the company's expertise in Oracle E-Business Suite applications and grow its annual revenue to nearly $340 million.
Perficient said it bought Nascent for approximately $18.1 million, including $11.3 in cash and approximately $6.8 million in Perficient common stock.
Dallas-based Nascent is a services and technology consulting firm that's focused on the Oracle E-Business Suite, Oracle's flagship line of ERP applications. The company has $17 million in annual revenue, Perficient said.
"We're pleased to add Nascent's Oracle EBS expertise to Perficient's solutions portfolio in this well-structured transaction," said Jeffrey Davis, Perficient's chief executive officer and president, in a statement. "Nascent is a well-run business that has realized consistent growth and impressive margins while building its reputation as a leading provider of Oracle ERP solutions to the world's leading enterprises. Enterprises accustomed to engaging Perficient for our deep expertise across a broad solutions portfolio can now leverage our business and technology consultants for ERP implementations as well."
The acquisition brings more than 70 consulting, technology, sales and support professionals to St. Louis-based Perficient. All Nascent partners will join Perficient in key leadership roles, the company said. Co-founder and chief executive Chris Wilson will join as a general manager and report directly to Don Kasica, vice president of Perficient’s Oracle operations. Nascent partners Stuart Massey, Mike Williamson and Joseph Hayes will also join Perficient.
Nascent's client base is concentrated in the Arkansas, Louisiana, Oklahoma and Texas region and includes Alpha Natural Resources, AMC Entertainment, Boardwalk Pipeline and TD Ameritrade.
Perficient, No. 94 on the VAR 500 list in 2011, partners with EMC, IBM, Microsoft, Oracle and Tibco. The company has made a half-dozen acquisitions in recent years including PointBridge Solutions in February, JCB Partners and Exervio Management Consulting in 2011, and SpeakTECH and Kerdock Consulting in 2010.