EQT to Buy Perficient for $3B in Digital Consultancy Deal

May 6, 2024: EQT, a leading global investment firm, has entered into a definitive agreement to acquire Perficient, Inc., a prominent digital consultancy, in an all-cash transaction valued at approximately $3 billion. This acquisition signifies a significant development within the digital consulting landscape.

The deal, unanimously approved by Perficient’s board of directors, involves EQT acquiring each share of Perficient’s common stock for $76. This price represents a substantial premium of 58% over Perficient’s closing stock price on the day before the announcement and a 51% premium compared to its 30-day volume-weighted average share price.

Following the acquisition’s completion, Perficient will be delisted from the Nasdaq stock exchange and transition into a private company under EQT’s ownership. However, the current leadership team, including CEO Tom Hogan, is expected to remain in place, ensuring continuity in Perficient’s operations.

This acquisition presents strategic benefits for both parties. EQT gains access to Perficient’s established expertise in digital transformation services, allowing them to expand their portfolio within a high-growth sector. Perficient, in turn, benefits from EQT’s financial resources and global network, potentially enabling further growth and market reach.

The potential for enhanced financial flexibility and operational support under EQT’s ownership could empower Perficient to further strengthen its service offerings and client base. This, in turn, could lead to a more prominent position within the competitive digital consulting market.

While the full ramifications of this acquisition will unfold in the coming months, it undoubtedly marks a significant shift for Perficient and the broader digital consulting landscape. EQT’s investment signals the significant potential within Perficient’s business model and its ability to contribute to EQT’s long-term growth strategy.

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