Ridgecrest Advisors’ Client Perficient Acquires Inflection Point
SAINT LOUIS, MO (September 7, 2022) – Ridgecrest Advisors announced today that its client, Perficient, Inc. (NASDAQ: PRFT) (“Perficient”), the leading digital consultancy transforming the world’s largest enterprises and biggest brands, has acquired Inflection Point Systems, Inc. (“Inflection Point”), an approximately $15 million revenue software consulting and product development firm with nearshore operations based in Monterrey, Mexico, and headquarters in Columbia, Maryland.
The acquisition is not reflected in existing 2022 revenue or earnings guidance and is expected to be accretive to adjusted earnings per share immediately.
“We’re excited to continue to strengthen our nearshore delivery capacity, enhance our digital capabilities, and further expand across Latin America with the strategic acquisition of Inflection Point,” said Jeffrey Davis, Perficient’s Chairman and CEO. “Our multi-shore, fully-integrated, global delivery approach continues to be a key driver of growth, and a compelling differentiator in the market. With the addition of Inflection Point’s award-winning agile software development expertise, we have bolstered our ability to help the world’s biggest brands deliver engaging customer experiences across all touchpoints.”
The acquisition of Inflection Point:
- Strengthens Perficient’s nearshore delivery capabilities and capacity with enhanced agile software design, development, testing and support for customers, accelerating innovation and time to market;
- Broadens Perficient’s solution offerings and expertise across mobile, product development, web content management, e-commerce, security, enterprise search, and digital marketing services;
- Expands Perficient’s presence in Latin America, adding a nearshore software development location in Mexico;
- Adds more than 200 skilled professionals; and
- Brings strategic client relationships with Fortune 1000 customers across several industries, including across financial services, healthcare, education, security, high tech, and hospitality sectors.
Inflection Point CEO Carlos Montemayor joins Perficient in a key leadership role.
“Perficient is well known for its impressive global growth and strategic nearshore delivery expertise across a wide range of technology platforms,” said Montemayor. “For nearly 20 years, Inflection Point’s experienced project teams have been dedicated to delivering excellence for our clients, and we’re excited to join forces with Perficient – a trusted leader in providing end-to-end digital solutions to the world’s leading enterprises.”
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 Inflection Point and its Mexico-based software development expertise is an exciting addition to Perficient’s portfolio of nearshore service offerings,” said Grigg.
About Perficient
Perficient is the leading global digital consultancy. We imagine, create, engineer, and run digital transformation solutions that help our clients exceed customers’ expectations, outpace competition, and grow their business. With unparalleled strategy, creative, and technology capabilities, we bring big thinking and innovative ideas, along with a practical approach to help the world’s largest enterprises and biggest brands succeed. Traded on the Nasdaq Global Select Market, Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. 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.
