Information technology consulting firm, Perficient (News - Alert), Inc., has successfully completed the acquisition of PointBridge Solutions, LLC, an IT consulting firm that specializes in building high-impact business solutions with Microsoft (News - Alert) technology.
The consideration paid in the transaction is approximately $22.0 million and includes $14.4 million in cash and $7.6 million worth of Perficient common stock.
Officials said that the acquisition will increase Perficient's current annualized revenues to more than $300 million and will further strengthen its ability to bring a comprehensive portfolio of business-driven technology solutions to market.
In a press release, Jeffrey Davis, Perficient's chief executive officer and president, said, “Like Perficient, PointBridge is an award-winning Microsoft NSI (News - Alert) partner and we're pleased to add their proven sales and delivery teams, attractive services offerings, and impressive client roster and bill rates in this well-structured transaction.”
The acquisition of PointBridge will expand Perficient’s market presence in the Chicago, Milwaukee and Boston markets and will increase company’s staff by adding more than 130 consulting, technology, sales and support professionals.
Furthermore, this deal will also help expand Perficient’s portfolio by adding companies like American Family Insurance, Caterpillar, John Deere, Jones Lang LaSalle, Wolters Kluwer and many others.
“Perficient is well known for its expertise across many technology platforms and is regarded as one of the finest Microsoft National Systems Integrator partners in the country,” said Mike Gersten, PointBridge co-founder and CEO. “This transaction accelerates our collective opportunity to become the leading Microsoft consulting firm in the country.”
Gersten will join Perficient in a key leadership role and will report directly to Aaron Sloman, general manager of Perficient's Microsoft business group.
In related news, Perficient has recently received the “Best Practice Award” at Microsoft's Southwest District bi-annual partner briefing.