Private equity firm EQT AB plans to buy digital consultancy company Perficient Inc. in an all-cash deal for $3 billion (€2.78 billion.)
Affiliates of EQT’s BPEA Private Equity Fund VIII will acquire Perficient, according to a May 5 news release from the US-based company. EQT expects BPEA Private Equity Fund VIII to be invested 55% to 60% with the transaction, according to a same-day news release from the Swedish firm.
Under the deal’s terms, Perficient stockholders will receive $76 (€70.45) per share in cash for each share of common stock owned at the close of the acquisition. The purchase price represents a 75% premium to Perficient’s closing stock price on April 29 and a 51% premium to the Company’s 30-day volume-weighted average share price for the period ending April 29.
Hari Gopalakrishnan, Partner within the EQT Private Capital Asia advisory team said:
“Perficient is well known for its world class end-to-end digital consulting capabilities, and unmatched global delivery. In recent years, the Perficient team has been successful in expanding the scope of their offerings, and we look forward to supporting them in driving further growth.”
The companies expect the transaction, which still needs approval from Perficient stockholders and regulators, to close by the end of 2024. Perficient will no longer trade on the NASDAQ and will become a private company once the deal is completed.
EQT’s announcement to buy Perficient comes just two days after EQT said it would buy another information technology company, WSO2 LLC.