Perficient Expands Its Presence In Financial Services With Acquisition
There's consolidation under way in the channel and the solution providers that will thrive are the ones that offer high-value skills in vertical markets. This week St. Louis-based Perficient, which has been aggressively acquiring technology consulting firms, acquired ForwardThink for $46 million.
ForwardThink is a $30 million-a-year services revenue management and technology consulting firm focused on the financial services industry. The acquisition deepens Perficient's business process improvement, payments, financial transformation and risk management capabilities. It also brings a roster of clients in the banking, wealth management, asset management, capital markets and insurance industries.
Along with expanding into vertical industries, Perficient (No. 79 on the CRN 2013 Solution Provider 500) has acquired other solution providers to expand its services around IBM, Salesforce.com and Microsoft products. The company's annual sales are approaching $430 million.