Perficient Nabs Northridge Systems, Boosts SharePoint Presence
IT consulting firm Perficient has been on a bit of an acquisition spree lately, snapping up Dallas-based business and technology consulting firm Nascent Systems in June, and buying consulting firm Northridge Systems this week for approximately $14.4 million.
Northridge focuses on collaboration solutions, primarily leveraging Microsoft’s SharePoint platform. The transaction will increase Perficient’s current annualized revenues to approximately $350 million, the company said.
The move also bolsters Perficient’s presence in the southeastern United States, particularly in Atlanta, where Northridge is based, and Charlotte, N.C., and adds more than 90 consulting, technology, sales and support professionals.
Perficient helps customers use Internet-based technologies, including business intelligence and customer relationship management technologies to improve productivity and competitiveness and reduce information technology costs.
Northridge co-founder and CEO Rob Patten will join Perficient and report to to Perficient’s general manager of the Microsoft national business unit, Aaron Sloman.
In addition to the expertise and market reach gained through the acquisition, Perficient also picks up a number of high-profile customers, including Chick-fil-A, Duke University, Time Warner Cable, Garmin and Allstate, among others.
The payment terms include $10.6 million in cash and approximately $3.8 million worth of Perficient common stock.