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Sunday, July 23, 2006

Perficient Buying Digital IT Consulting Firm

IT consulting firm Perficient, Inc. announced last Friday it would be buying the energy and government sector of Digital Consulting & Software Services, Inc. for the price of $12.9 million. The amount will be paid in a combination of stocks and cash, without transaction costs.

This acquisition by the IT consulting firm will grow the company to the Southeast and will most likely immediately increase earnings. Digital Consulting will give Perficient offices in Atlanta and New Orleans, the IT consulting firm’s first offices and also add to its Houston, TX presence. The customers that will get unit services are military contractor Northrop Grumman, Shell and Reliant energy companies and cable company Cox Communications.

The purchase price, according toe Perficient totals approximately $6.4 million cash and about $6.5 million in stocks. Perficient’s stock shares dropped 21 cents to level off at $12.35 in trading.

Blogged By: Joshua Feinberg