Perficient

Perficient, Inc. is a consulting firm serving enterprise customers throughout North America.[3] The company's efforts include enterprise mobile applications, creative services, marketing, digital strategy[4] Internet of Things,[5] information technology, management consulting, custom development, and platform implementations.

Perficient, Inc.
TypePublic
NASDAQ: PRFT
S&P 600 Component
IndustryConsulting
Founded1997
HeadquartersSt. Louis, Missouri
Area served
Worldwide
Key people
Jeffrey S. Davis (CEO)
RevenueUS$565.5 million (2019)[1]
US$55.3 million (2019)[2]
US$37.12 million (2019)[2]
Number of employees
≈3,500 (2019)
Websitewww.perficient.com

The firm primarily performs project-based work, a large portion of which involves business intelligence and portal collaboration. Perficient also has offshore capabilities.[6][7]

Perficient has offices in North America, Europe, India, and China.[8]

History

Formation and early years

The company was founded in Austin, Texas in August 1997 by Bryan Menell. The first angel investors in the company were Steve Papermaster and David Lundeen. The company secured its first channel partnership with Vignette, a provider of content management systems.

The company held its initial public offering (IPO) on July 29, 1999. In December 1999, the company completed its first acquisition of LoreData based in New London, Connecticut. In May 2000, Perficient acquired Compete, Inc.[9]

In 2001, Vertecon Inc. was acquired.[10]

Jack McDonald became CEO of Perficient in 1999 and chairman in 2001. McDonald served in both positions until 2009.[11] Lori Hawkins of Statesman noted that during McDonald's tenure, Perficient "grew from eight employees to more than 1,200 worldwide and had annual sales of $200 million."[12] According to the St. Louis Business Journal in August 2009, "during the second quarter, Perficient lost $196,000 on $44.9 million in revenue, compared with a $3.9 million profit on $59.1 million in revenue during the same period last year" (in 2008).[13]

Jeffrey Davis became Perficient's COO in 2001 and president in 2003.[14] Davis was named CEO in September 2009.[13]

During Davis' tenure as CEO, the firm transitioned from the Nasdaq SmallCap Market to the Nasdaq Global Select Market.[6] By 2014, Davis had helped Perficient buy 13 companies in deals worth a combined $232.3 million since taking over as CEO in 2009.[15]

In 2011, Perficient acquired business and management consulting firm Exervio for $13.6 million.[16] In 2012, Perficient acquired PointBridge Solutions, LLC for $22 million.[17] Perficient then acquired services and technology consulting firm Nascent Systems LP in July, 2012.[18] Also in 2012, Perficient acquired Northridge Systems.[19]

In 2013, Perficent acquired TriTek Solutions Inc., an IBM-focused enterprise content management and business process management consulting firm for $18.5 million.[20] Perficient then acquired two salesforce.com firms, CoreMatrix Systems LLC[21] and Clear Task, Inc.[22]

In 2014, the company made three acquisitions: ForwardThink Group,[21] BioPharm Systems,[23] and the IBM Smarter Commerce Division of Trifecta Technologies.[24] Perficient also announced that year its plans to open a domestic delivery center in Lafayette, Louisiana.[25]

In 2015, Perficient acquired Market Street Solutions, Inc.,[26] an IT consulting firm. In December 2015, Perficient acquired Enlighten, a digital marketing agency.[27]

In 2016, Perficient launched a new digital marketing agency called Perficient Digital. Over 200 Perficient employees work under the new Perficient Digital banner, with most of them in Ann Arbor, Michigan; Milwaukee; St. Louis; and Irvine, California.[28]

In 2017, Perficient acquired RAS & Associates, LLC,[29] a Denver-based management consultancy In June 2017, Perficient acquired Clarity Consulting a Chicago-based consultancy where approximately 160 technology, sales, consulting, and general and administrative professionals were added, making it the largest acquisition to date.[30]

In 2018, Perficient acquired Southport Services Group, LLC,[31] a Washington D.C.-based MicroStrategy shop, offering analytics and data expertise.[32] In July 2018, Perficient acquired Stone Temple Consulting,[33] a Boston-based digital marketing agency founded by Eric Enge rounding out Perficient’s  overall engagement in the digital space and depth around search engine optimization.[32] In October 2018, Perficient acquired Elixiter, Inc.[34]

In 2018, Perficient’s services revenue came in at $494 million, a year-over-year increase of 11%.[35]

In May 2019, Perficient acquired Fargo, North Dakota-based Sundog Interactive, a firm that provides business-to-business marketing and Salesforce consulting to leading manufacturers.[36]

Acquisitions
Perficient acquisitions
Company Date Acquired Capabilities Purchase Price Former Headquarters
Productora de Software, S.A.S. (PSL)[37] June 17, 2020 Software Development (undisclosed) Medellin, Colombia
Brainjocks[38] March 23, 2020 Digital Consultancy, Sitecore (undisclosed) Atlanta, GA
MedTouch[39] January 6, 2020 Digital Healthcare Marketing and Technology Consultancy, Healthcare (undisclosed) Boston, MA
Sundog Interactive, Inc. May 22, 2019 Marketing and Technology Consulting, Salesforce (undisclosed) Fargo, ND
Elixiter, Inc. October 29, 2018 Digital agency, Marketo (undisclosed) Bozeman, MT
Stone Temple Consulting Corporation July 16, 2018 Digital agency (undisclosed) Framingham, MA[40]
Southport Services Group Apr 3, 2018 Data Analytics, Business Intelligence (undisclosed) Washington, DC[41]
Clarity Consulting June 23, 2017 Microsoft, Unified Communications (undisclosed) Chicago, IL[5]
RAS & Associates January 4, 2017 Management Consulting (undisclosed) Denver, CO[42]
Bluetube October, 2016 Digital agency (undisclosed) Atlanta, GA[43]
Enlighten December, 2015 Digital agency (undisclosed) Ann Arbor, Michigan[44]
Market Street Solutions, Inc. Sep, 2015 IT Consulting $5.3 million Chattanooga, Tennessee[45]
Zeon Solutions Inc. and Grand River Interactive LLC Jan, 2015 E-Commerce Solutions $35.7 million Milwaukee, Wisconsin[46]
IBM Smarter Commerce Division of Trifecta Technologies May, 2014 IBM WebSphere Commerce $13.7 million Allentown, Pennsylvania[47]
BioPharm Systems April, 2014 Life Sciences Technology Consulting $17.6 million San Francisco, California[48]
ForwardThink Group February, 2014 Financial Services Consulting $46 million New York City[49]
CoreMatrix Systems LLC October, 2013 salesforce.com $21.5 million New York City[50]
Clear Task, Inc. May, 2013 salesforce.com $7.9 million San Francisco[51]
TriTek Solutions May, 2013 IT Consulting $18.5 million Annandale, Virginia[20]
Northridge July, 2012 IT Services $14.4 million Atlanta[52]
Nascent Systems LP June, 2012 IT Services $18.1 million Dallas, Texas[53]
PointBridge Solutions February, 2012 Web Content Management $22 million Chicago[54]
JCB Partners LLC July, 2011 Enterprise Performance Management $18 million Denver, Colorado[55]
Exervio, Inc. April, 2011 Management Consulting $13.6 million Charlotte, NC[16]
speakTECH December, 2010 Web Design $15 million Costa Mesa, California[56]
Kerdock Consulting March, 2010 Enterprise Performance Management $6 million Houston, Texas[57]
ePairs November, 2007 CRM $6 million Cupertino, California[58]
BoldTech Systems, Inc. September, 2007 Offshoring $20.8 million Denver, Colorado[59]
Tier1 Innovation, LLC June, 2007 CRM $14.3 million Denver, Colorado[60]
E-Tech Solutions February, 2007 IT Consulting $12.2 million Philadelphia, Pennsylvania[61]
Energy, Government and General Business (EGG) division of Digital Consulting & Software Services, Inc. July, 2006 IT Consulting $12.9 Million Houston, Texas[62]
Insolexen May, 2006 Enterprise Application Integration $13.4 million Novi, Michigan[63]
Bay Street Solutions April, 2006 CRM $9.3 million San Francisco, California[64]
Vivare September, 2005 Service Oriented Architecture $9.4 million Dallas, Texas[65]
iPath Solutions June, 2005 Enterprise Content Management $7.9 million Houston, Texas[66]
ZettaWorks LLC March, 2005 IT Consulting $10.7 million Houston, Texas[67]
Meritage Technologies June, 2004 Enterprise Portals and Collaboration $9.5 million Columbus, Ohio[68]
Genisys Consulting Inc. April, 2004 IT Consulting $7.9 million Chicago[69]
Vertecon Inc. October, 2001 IT Consulting (undisclosed) St. Louis, Missouri[70]
Javelin Solutions October, 2001 IT Consulting (undisclosed) Minneapolis[71]
Compete, Inc. May, 2000 IT Consulting $63 million Lisle, Illinois[72]
LoreData December, 1999 IT Consulting (undisclosed) New London, Connecticut

Partners

In 2013, Perficient made two acquisitions related to Salesforce.com: New York City-based CoreMatrix Systems and San Francisco-based ClearTask.[50]

References
  1. "Fundamentals". Retrieved 28 April 2020.
  2. "Financial Tables". Perficient Investor Relations. Retrieved 2017-10-09.
  3. "About Us | Perficient, Inc". www.perficient.com. Retrieved 2018-07-16.
  4. Whiting, Rick (14 October 2016). "5 Companies That Came To Win This Week". CRN. Retrieved 5 January 2017.
  5. Jones, Donovan (2017-06-23). "Perficient Acquires Clarity Consulting For Microsoft Expertise". Seeking Alpha. Retrieved 2017-10-08.
  6. Perficient, Inc. President And CEO Jeff Davis Interviews With The Wall Street Transcript The Wall Street Transcript Mar 7, 2011
  7. "Magento Partners with Adobe to Redefine Commerce Experience". Retrieved 6 January 2017.
  8. Perficient thinks vertical with latest acquisition ZDNet February 20, 2014
  9. Newswires, Bob SechlerDow Jones (2000-02-17). "Perficient Plans to Acquire Compete for up to $63 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-04-07.
  10. "Vertecon purchased by Austin IT firm". www.bizjournals.com. 2001-10-03. Retrieved 2019-08-15.
  11. "exhibit992.htm". www.sec.gov. Retrieved 2019-06-26.
  12. Hawkins, Lori. "Former Perficient CEO Jack McDonald to launch new software venture". Austin American-Statesman. Retrieved 2019-06-27.
  13. "Davis Named CEO of Perficient". St. Louis Business Journal. August 5, 2009.
  14. "Perficient, Inc. - Jeff Davis". The Wall Street Transcript. 2011-03-07. Retrieved 2019-08-15.
  15. "Efficient Perficient: How Jeff Davis turned Perficient into St. Louis next $500 million tech company". 2014-12-12.
  16. "Perficient buys Exervio for $13.6M" St. Louis Business Journal April 1, 2011
  17. "Perficient Acquires PointBridge Solutions" MarketWatch Feb 9, 2012
  18. "Perficient acquires Nascent Systems for $18 million". www.bizjournals.com. Retrieved 6 January 2017.
  19. "Perficient Acquires Northridge Systems" Reuters, July 2, 2012
  20. "Perficient acquires TriTek Solutions for $18.5 million" St. Louis Business Journal, May 2, 2013
  21. Clancy, Heather. "Perficient thinks vertical with latest acquisition | ZDNet". ZDNet. Retrieved 6 January 2017.
  22. "Perficient acquires Clear Task Inc. for about $7.9 million". www.bizjournals.com. Retrieved 6 January 2017.
  23. Kuranda, Sarah (1 April 2014). "Perficient Expands Vertical Variety With $17.6 Million Acquisition Of BioPharm Systems". CRN. Retrieved 6 January 2017.
  24. "10-K: PERFICIENT INC". MarketWatch. Retrieved 6 January 2017.
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  30. "Perficient acquires Chicago firm". www.bizjournals.com. Retrieved 2019-08-19.
  31. "Perficient Acquires Southport Services Group | Perficient, Inc". www.perficient.com. Retrieved 2018-07-24.
  32. "Perficient, Inc. - Jeff Davis". The Wall Street Transcript. 2011-03-07. Retrieved 2019-08-19.
  33. "Stone Temple Consulting has been acquired by Perficient - Search Engine Land". Search Engine Land. 2018-07-16. Retrieved 2018-07-24.
  34. "Perficient Announces Acquisition of Elixiter | Perficient, Inc". www.perficient.com. Retrieved 2018-11-02.
  35. "Perficient: A Slow But Steady Growth Story". 2019-04-18.
  36. "Acquisitive St. Louis-based IT consulting firm eyes more deals by year's end". www.bizjournals.com. Retrieved 2019-08-19.
  37. "Strengthening Our Global Delivery Capabilities with PSL". Perficient. Retrieved 17 June 2020.
  38. "Perficient Announces Acquisition of Brainjocks". BusinessWire. Retrieved 28 April 2020.
  39. Rubbelke, Nathan (Jan 6, 2020). "Reporter". St. Louis Business Journal. Retrieved 28 April 2020.
  40. "Perficient Acquires Stone Temple Consulting | Perficient, Inc". www.perficient.com. Retrieved 2018-07-24.
  41. Feldt, Brian. "IT consultant Perficient buys East Coast data analytics firm". stltoday.com. Retrieved 2018-06-06.
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  45. "Perficient buys Tennessee IT firm for $5.3 million" St. Louis Business Journal, Sep 18, 2015
  46. "Perficient to acquire Zeon Solutions for $35.7 million" St. Louis Business Journal, Dec 18, 2014
  47. "Perficient Acquires IBM Smarter Commerce Division of Trifecta Technologies" MarketWatch, May 8, 2014
  48. "Biopharm Systems Acquired By Perficient" Clinical Leader, April 10, 2014
  49. "Perficient Named a Salesforce Platinum Consulting Partner". www.businesswire.com. Retrieved 2017-05-12.
  50. Perficient extends acquisition streak, expands Salesforce.com integration skills ZDNet October 15, 2013
  51. Perficient, Inc (PRFT): The Next Big Cloud Computing Stock? SKYY SmallCap Network October 17, 2013
  52. Perficient Acquires Northridge Systems, Adds To SharePoint Expertise CRN Magazine July 2, 2012
  53. Perficient Expands Its Oracle EBS Expertise With Nascent Buyout BNET June 5, 2012
  54. "Perficient Acquires PointBridge Solutions" MarketWatch, February 9, 2012
  55. "Perficient buys JCB in $18 million deal" St. Louis Business Journal, July 1, 2011
  56. Perficient buys speakTECH for $15M St. Louis Business Journal December 15, 2010
  57. Perficient buys Kerdock Consulting St. Louis Business Journal March 29, 2010
  58. Perficient Acquires ePairs, Inc. BNET November 23, 2007
  59. Perficient Acquires BoldTech for $20.8M Marketwatch September 21, 2007
  60. Tier1 Innovation Sells for $14.3M Denver Business Journal June 26, 2007
  61. Perficient says acquires E-Tech Solutions for $12.2 mln Reuters February 21, 2007
  62. Perficient Expands Portfolio with EGG Acquisition TMCNet July 21, 2006
  63. Perficient buys Michigan firm for $13 million Austin Business Journal May 31, 2006
  64. Perficient to Buy Bay Street Solutions Austin Business Journal April 7, 2006
  65. Perficient Buys Dallas IT Consulting Firm Austin Business Journal September 6, 2005
  66. Austin IT consulting firm buys iPath for $7.9M HOUSTONBizJournal June 13, 2005
  67. Perficient completes ZettaWorks purchase Austin Business Journal March 7, 2005
  68. Perficient acquires Columbus company Austin Business Journal June 21, 2004
  69. Perficient buys Illinois company for $7.9M Austin Business Journal April 5, 2004
  70. Vertecon purchased by Austin IT firm Saint Louis Business Journal October 3, 2001
  71. Perficient to acquire consulting firm October 29, 2001
  72. Perficient Plans to Acquire Compete for up to $63 Million February 17, 2000
  73. "Perficient, a Prominent Microsoft Solution Provider, Buys Another in PointBridge for $22 Million" IT ChannelPlanet February 2012
  74. "Perficient Relocates Dallas Office, Establishes Base Center of Excellence for Oracle Technology Practice" Archived 2013-05-16 at the Wayback Machine Enhanced Online News, January 13, 2012
  75. "IBM Partners Prep for Social Business at Lotusphere 2012" eWeek, January 15, 2012
  76. Cocks, Heather. "Perficient to install WebSphere for IBM". Austin American Statesman. November 3, 2000. https://www.newspapers.com/image/357288706/?terms=Perficient%2Bto%2Binstall%2BWebSphere%2Bfor%2BIBM
  77. "Pivotal Names Perficient a Systems Integrator Customer Impact Partner Award Winner for Achievements in Cloud Innovation". MarketWatch. Retrieved 2019-09-30.
  78. "Sitecore Names Perficient Digital a 2018 Experience Award Winner for Dignity Health Patient Experience Pathways". www.businesswire.com. 2018-10-08. Retrieved 2019-09-30.
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