Perficient Acquired By EQT For $3B, Stock Soars 53 Percent

‘EQT shares our vision for the future as we transform how the world’s biggest brands connect with customers,’ says Perficient CEO Tom Hogan.

Global channel consultant Perficient is being acquired by private equity firm EQT AB for approximately $3 billion in a move its CEO says is a win for shareholders as Perficient’s stock jumped over 50 percent Monday morning.

“We are excited to have reached the separately announced agreement with EQT, which provides our stockholders with compelling, certain cash value for their shares,” said Perficient CEO Tom Hogan in a statement. “EQT shares our vision for the future as we transform how the world’s biggest brands connect with customers.”

St. Louis-based Perficient, ranked No. 56 on the CRN 2023 Solution Provider 500, is a global business with operations in North and South America, Europe and India. The company has about 7,000 employees across over 40 locations worldwide and has about 300 of the Fortune 1000 businesses as clients.

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Perficient Stock Up 53 Percent

Perficient stock is up over 53 percent to $73.50 in premarket trading as of Monday morning.

The Swedish global investment firm’s EQT Asia affiliate agreed to pay $3 billion in cash for Perficient, which amounts to roughly $76 per share. This is a 75 percent premium compared with Perficient’s stock price of $43.46 on April 29 before the news was first reported.

Perficient’s top partners include AWS, Adobe, Microsoft and Salesforce.

The deal is expected to close by the end of 2024.

Perficient First-Quarter 2024 Earnings: $215 Million

On May 5, Perficient unveiled first-quarter 2024 financial results. The solution provider generated $215 million in first-quarter 2024, down 7 percent year over year.

Net income for Perficient dropped 57 percent year over year to $11.6 million.

“Our business is steadily improving, and our pipeline remains robust,” said Hogan. “We remain confident that momentum will continue to build throughout 2024.”