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Perfect Technology Consulting Company (Nasdaq:pervt) on its sale to private equity firm EQT AB for approximately $3 billion.
An affiliate of private equity fund BPEA VIII (EQT Asia), which is part of EQT AB, has agreed to acquire Perficient (PRFT).) for $76 per share in cash, according to A statement Sunday. The price represents a 58% premium to Friday's closing price and 76% to its April 29 closing price, prior to Bloomberg's report that Perfectent was… Evaluate potential sale.
St. Louis-based Perficient (PRFT), which was scheduled to report first-quarter results on Monday, also released earnings on Sunday.
“Today’s announcement is the result of a comprehensive review conducted by the Board of Directors to maximize value for the company and its shareholders,” Jeffrey Davis, chairman of Perfectent, said in the statement.
The deal is expected to close by the end of the year. The deal is not subject to a financing condition.
BofA Securities is acting as lead financial advisor and Wells Fargo is acting as financial advisor to Perficient in connection with the transaction. Kirkland & Ellis LLP is serving as legal counsel to Perficient. JP Morgan and TD Securities are serving as financial advisors to EQT, and Simpson Thacher & Bartlett LLP is serving as legal advisor.