Ridgecrest Advisors’ Client Perficient Acquires Bluetube
St. Louis – October 13, 2016 – Ridgecrest Advisors announced today that its client, Perficient, Inc. (NASDAQ: PRFT), the leading digital transformation consulting firm serving Global 2000 and other large enterprise customers throughout North America, today announced it has acquired Bluetube, a $7 million annual-services-revenue digital consultancy with deep expertise in enterprise mobile applications.
The acquisition is expected to be accretive to adjusted earnings per share immediately.
“We are excited to continue to strengthen our digital capabilities with the strategic acquisition of Bluetube,” said Jeffrey Davis, Perficient’s chief executive officer and president. “Bluetube’s capabilities are highly complementary to those of our award-winning creative agency, Perficient Digital, and in a mobile-first world are a key strategic differentiator. Bluetube’s reputation for delivering excellent digital and mobile experiences, customer-centric mentality, and solid client roster ensures a strong cultural fit and compelling opportunities for accelerated growth moving forward.”
The acquisition of Bluetube:
- Enhances and expands Perficient’s digital experience offerings with additional strategy, creative services, mobile, and marketing expertise;
- Increases Perficient’s presence in the southeastern United States and in the enterprise-rich Atlanta market;
- Strengthens Perficient’s Microsoft-oriented offerings by deepening its Sitecore practice expertise and introducing an Elite level Xamarin partnership (one of just 10 globally) to the firm;
- Adds approximately 60 consulting, digital agency, technology, sales, and support professionals; andBrings client relationships with enterprise customers including Home Depot, Jackson Energy Authority, Kimberly-Clark, Mapco Express, the New York Philharmonic, Sea Tow, Turner Broadcasting, and many others.
Bluetube’s chief executive officer, Grant Davies, joins Perficient in a key leadership role.
“Perficient, and its award-winning creative agency, Perficient Digital, is well-known and highly regarded for its digital transformation expertise and experience,” Davies said. “We’re thrilled to join a firm with a reputation for excellence and a distinguished track record of delivering outstanding digital experience, business optimization, and industry solutions to the world’s leading enterprises.”
Randy Grigg, managing partner of Ridgecrest Advisors, advised Perficient on the transaction. “Bluetube’s outstanding enterprise mobile expertise and reputation make for a terrific fit with Perficient,” said Grigg.
Perficient is the leading digital transformation consulting firm serving Global 2000® and enterprise customers throughout North America. With unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Our work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Perficient’s professionals serve clients from a network of offices across North America and offshore locations in India and China. Traded on the Nasdaq Global Select Market, Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. Perficient is an award-winning Premier Level IBM business partner, a Microsoft National Service Provider and Gold Certified Partner, an Oracle Platinum Partner, an Adobe Business Solution Partner, and a Gold Salesforce Consulting Partner. For more information, visit www.perficient.com.
About Ridgecrest Advisors
Ridgecrest Advisors is an investment banking and business consulting firm dedicated to helping technology consulting firms dramatically increase enterprise value. Ridgecrest Advisors helps clients in four core areas:
- Buy-side M&A advisory: We help technology consulting clients increase enterprise value by successfully executing transactions which fortify, extend or transform their businesses. We have run three of the most active acquisition programs in the sector over the last 15 years and bring deep insight into full lifecycle M&A efforts.
- Sell-side M&A advisory: We help technology consulting clients achieve premium valuations with attractive deal structures through a process that emphasizes speed and risk mitigation. Our deep industry expertise, expansive relationships with the buyer community and unmatched understanding of the perspectives of acquiring firms provide a unique ability to execute optimal transactions.
- Business consulting: Our Enterprise Value Optimization program helps technology consulting clients improve relative performance visibility, increase profit margins and reduce business risk. With our extensive experience from evaluating hundreds of consultancies while running acquisition programs, we bring unique insight into key performance indicator benchmarks and best practices of highly profitable firms.
- Private placements: Our ability to successfully raise capital allows our technology consulting clients to build value through funded strategic investment and reduce personal financial risk by realizing partial liquidity on their ownership positions. We have extensive relationships with private equity and debt financing providers who have experience and/or interest in the technology consulting sector.
All services involving securities are offered through M&A Securities Group, Inc. (“MAS”), member FINRA/SiPC; 4151 North Mulberry Drive, Suite 252; Kansas City, MO 64116; 816.888.7920. MAS and Ridgecrest are not affiliated entities.