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Technical ConsultantPerficient Inc. (NASDAQ:PRFT) agreed to be sold to private equity firm EQT AB for about $3 billion.
Affiliates of EQT AB’s BPEA Private Equity Fund VIII (EQT Asia) agree to acquire Perficient (PRFT)), $76 per share in cash, according to one company statement on Sunday.The price represents a 58% premium to Friday’s closing price and a 76% premium to the April 29 closing price, after Bloomberg reported that Perficient had Evaluate potential sales.
St. Louis-based Perficient (PRFT), which was scheduled to report first-quarter results on Monday, also reported earnings on Sunday.
“Today’s announcement is the result of a comprehensive review by the board to maximize value for the company and its shareholders,” Jeffrey Davis, chairman of Perficient’s board of directors, said in a statement.
The transaction is expected to close by the end of this year. The deal is not subject to financing conditions.
BofA Securities and Wells Fargo acted as financial advisor and financial advisor, respectively, to Perficient in this transaction. Kirkland & Ellis LLP served as legal counsel to Perficient. JPMorgan Chase & Co. and TD Securities are serving as financial advisors to EQT, and Simpson Thacher & Bartlett LLP is serving as legal advisor.
