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technology consultant Perficient Inc. (NASDAQ:PRFT) agreed to be sold to private equity firm EQT AB for around $3 billion.
An affiliate of BPEA Private Equity Fund 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 on Sunday. The price represents a 58% premium to Friday's closing price and a 76% premium through April 29, before a Bloomberg report that Perficient was evaluate a possible sale.
St. Louis-based Perficient (PRFT), which was scheduled to report first-quarter results on Monday, also released its results on Sunday.
“Today's announcement is the result of a comprehensive review by the board of directors to maximize value for the company and its shareholders,” Jeffrey Davis, chairman of Perficient's board of directors, said in the statement.
The deal is expected to close by the end of the year. The transaction is not subject to any financing conditions.
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 acting as legal counsel to Perficient. JP Morgan and TD Securities are acting as financial advisors to EQT, and Simpson Thacher & Bartlett LLP is acting as legal advisor.
