EQT Successfully Completes Acquisition of Perficient Inc.
EQT Successfully Completes the Acquisition of Perficient Inc.
EQT is thrilled to announce that its private equity fund has successfully completed the acquisition of Perficient, Inc. (NASDAQ: PRFT), a renowned global digital consultancy that specializes in transforming major enterprises and reputable brands. This important strategic move showcases EQT's commitment to expanding its portfolio and enhancing its service offerings.
Transitioning to Private Ownership
With the acquisition finalized, Perficient's common stock has ceased trading, and the company will no longer be available on the NASDAQ stock exchange. This transition to private ownership allows Perficient to streamline its operations and align more closely with its corporate goals. Now operating as a privately held company, Perficient aims to accelerate its growth trajectories without the pressures of public market fluctuations.
Perficient's Commitment to Growth
Post-acquisition, Perficient remains committed to its long-term growth strategy, which emphasizes scaling its global workforce, enhancing client partnerships, and investing in innovative digital solutions. The company is determined to provide exceptional digital services that enable Fortune 500 clients to meet and exceed evolving customer expectations.
A Vision for the Future
Perficient’s CEO, Tom Hogan, expressed enthusiasm for this new chapter, highlighting the organization’s extensive experience in building trusted relationships with large-scale brands. “EQT empowers us to innovate and expand, allowing us to strengthen our global team of 7,000 experts in strategizing, design, and technology,” he remarked.
EQT's Strategic Focus
Under the leadership of EQT, the focus will be on harnessing the combined power of their organizations to accelerate digital transformations for clients. EQT’s Partner in the Private Capital Asia advisory team, Hari Gopalakrishnan, emphasized the necessity of having a trusted partner during these transformative times, stating the critical role Perficient will play in helping enterprises navigate the complexities of digital evolution.
Advisors to the Transaction
This acquisition involved a formidable team of financial advisors. BofA Securities served as the lead advisor, while Wells Fargo contributed financial advisory services to Perficient. In addition, Kirkland & Ellis LLP provided legal guidance to Perficient, ensuring all aspects of the transaction were covered responsibly. On the EQT side, J.P. Morgan and TD Securities acted as financial advisors, while Simpson Thacher & Bartlett LLP offered legal expertise.
About Perficient
Perficient is a leading global digital consultancy, renowned for assisting the world's most prominent enterprises in leveraging technology to create substantial business impacts. Their diverse team of strategists, designers, technologists, and engineers works tirelessly to push limits, prioritize outcomes, and shape the future for their clients.
About EQT
EQT stands as a purpose-driven investment organization managing total assets that exceed EUR 246 billion. The firm operates within two main business segments: Private Capital and Real Assets, and it maintains a strong global presence across Europe, Asia-Pacific, and the Americas, fostering sustainable growth and operational excellence across its portfolio.
Frequently Asked Questions
What is the significance of EQT's acquisition of Perficient?
This acquisition allows EQT to expand its digital consultancy services, enhancing capabilities to support major enterprises in their digital transformation journey.
Will Perficient continue to operate independently?
Yes, Perficient will function as a privately held company, allowing it to implement its growth strategy without public market pressures.
What are the immediate goals of Perficient post-acquisition?
The immediate focus will be on expanding its global talent pool, nurturing client relationships, and innovating digital offerings.
Who were the financial advisors in this transaction?
BofA Securities served as the lead advisor for Perficient, while Wells Fargo also provided financial advice. EQT utilized J.P. Morgan and TD Securities for advisory services.
What does this acquisition mean for Perficient’s clients?
This acquisition enables Perficient to leverage EQT’s resources and expertise, ultimately enhancing the digital solutions offered to clients striving for competitive advantages in their respective sectors.
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