Ridgecrest Advisors’ Client Perficient Reaches Definitive Agreement to Acquire Sundog Interactive
SAINT LOUIS, MO (May 13, 2019) – Ridgecrest Advisors announced today that its client, Perficient, Inc. (NASDAQ: PRFT) (“Perficient”), the leading digital transformation consulting firm serving Global 2000 and other large enterprise customers throughout North America, today announced it has entered into a purchase agreement to acquire the assets of Sundog Interactive, Inc., a $14 million marketing and technology consulting firm that delivers Salesforce solutions for the world’s leading manufacturers.
The acquisition is anticipated to close later this month and is expected to be accretive to adjusted earnings per share immediately.
“We are excited to continue to strengthen our Salesforce consulting and digital marketing capabilities with the strategic acquisition of Sundog Interactive,” said Jeffrey Davis, Perficient’s Chairman and CEO. “Sundog Interactive’s marketing strategy, data and insights, and technology integration services are highly complementary to Perficient’s end-to-end digital transformation offerings. Adding specialized Salesforce capabilities aimed at accelerating results through smarter marketing further enhances our innovative cloud solutions and better serves our clients’ unique needs.”
The acquisition of Sundog Interactive:
- Broadens and deepens Perficient’s Salesforce consulting capabilities, bringing strategic marketing and technical delivery services focused on the manufacturing industry;
- Brings industry-specific intellectual property, including a partner relationship management solution extending and accelerating several Salesforce products for the manufacturing vertical; a white-label, multi-industry solution for marketing intelligence; and several packaged code offerings leveraging Salesforce and Google tools;
- Adds approximately 100 consulting, technology, sales and general and administrative professionals; and
- Brings a strong concentration of strategic client relationships with Fortune 1000 customers within the manufacturing industry, leading to significant opportunity for cross-selling synergies to accelerate mutual success.
Sundog leaders Brent Teiken, Eric Dukart and Johnathon Rademacher join Perficient in key roles.
“Perficient is well known for its expertise across many technology platforms, including Salesforce, and continues to be a key technology provider of marketing and sales cloud solutions,” said Teiken. “We’re thrilled to join the Perficient team, which is widely-recognized as one of the largest and most capable digital transformation consulting firms in the country. The acquisition will accelerate our collective opportunities for continued growth and success within the Salesforce ecosystem.”
Randy Grigg, managing partner of Ridgecrest Advisors, advised Perficient on the transaction in his capacity as a registered investment banking agent of M&A Securities Group, Inc. “The acquisition of Sundog is the culmination of an extensive search in the Salesforce Marketing Cloud domain and is the latest example of Perficient’s successful use of a highly targeted M&A program to strengthen and extend its digital transformation capabilities,” said Grigg.
About Perficient
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 Adobe Premier Partner, Platinum Level IBM business partner, a Microsoft National Service Provider and Gold Certified Partner, an Oracle Platinum Partner, an Advanced Pivotal Ready Partner, a Gold Salesforce Consulting Partner, and a Sitecore Platinum 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.
