Perficient,
Inc. is a leading eBusiness solutions provider to Global 2000
and major midsize companies, enables its clients and partners
to optimize profitability and strengthen customer relationships
through reliable, quick- to-market eBusiness solutions. Perficient
employs more than 175 professionals in five offices in the United
States, Canada and Europe. Perficient's partners are leading eBusiness
technology and services providers including IBM, Sun, Microsoft,
Vignette, Intranet Solutions, Autonomy and Interwoven.
On October 3, 2001, Perficient, Inc. and Vertecon, Inc., a privately-held
eBusiness solutions firm based in St. Louis, announced that they
signed a definitive merger agreement under which Perficient would
acquire Vertecon. The stock-for-stock deal, which was accretive
to earnings, created a profitable eBusiness services leader with
annual sales in excess of $25 million, more than 175 staff in
five offices across North America and Europe and client relationships
with over 250 Global 2000 and midsize companies. WWC Capital Group
initiated discussions, helped negotiate and served as the exclusive
advisor to Perficient on the deal.
``This transaction marks an important step forward in our plan
to build the dominant eBusiness solutions provider in the midwestern
and southwestern US,'' said Jack McDonald, Chairman and Chief
Executive Officer, Perficient. ``It complements our national affinity
services partnership with IBM and enables us to offer clients
and partners a broader array of end-to-end eBusiness solutions.
Vertecon's existing clients can expect the same outstanding service
they currently receive as key executives, account managers, project
managers and other personnel will stay in place.''
While Perficient kept its headquarters in Austin, St. Louis
became the operations hub for serving Perficient's midwestern
client base. As a part of the transaction, key members of Vertecon
management assumed senior roles at Perficient.
``Joining forces with Perficient is the logical next step in
our growth,'' said Charles Windsor, President and Chief Executive
Officer, Vertecon, Inc., who departed from day-to-day operations
but remained a consultant to Perficient. ``Our clients now have
a larger, stronger services partner that can provide a wider and
deeper offering of solutions across more markets.''
The terms of the agreement called for Perficient to issue up
to 2.6 million shares of Perficient stock to Vertecon, subject
to satisfying certain conditions in the first year following the
closing of the transaction. The deal, subject to various conditions
including approval by Perficient's shareholders, closed by the
first quarter of 2002. The companies began integrating operations
immediately after they announced the merger.
