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July 4, 2011

Perficient acquires technology consulting firm JCB Partners

increases Perficient's market presence in the Denver, Chicago and Northern and Southern California markets

By CBR Staff Writer

IT consulting firm Perficient has acquired business and technology consulting firm JCB Partners, which focuses on enterprise performance management, analytics and business intelligence offerings by leveraging the IBM Cognos suite of software products.

The transaction, which will increase Perficient’s current annualised revenues to approximately $275m, is expected to be accretive to earnings per share immediately.

Perficient chief executive officer and president Jeffrey Davis said JCB brings a proven track record and solid client roster to Perficient while helping them expand their presence in key markets.

"The addition of JCB further strengthens Perficient’s position as one of the leading business intelligence and enterprise performance management consulting firms in the country," Perficient chief operating officer Kathy Henely said.

"It increases our access to CFO suites, is a great complement to our business consulting offerings and presents a strong opportunity for pull-through of additional development, implementation and integration services," Henely said.

The acquisition increases Perficient’s market presence in the Denver, Chicago and Northern and Southern California markets; and adds 70 consulting, technology, sales and support professionals.

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It also adds client relationships with enterprise customers including Abbott, Aon, Arthur Gallagher, BCBS Association, Best Buy, Carter’s, Crocs, Del Monte Foods, DirecTV, GE, Genentech, Kaiser Permanente Quiznos, Ruth’s Chris, Sony, among others.

JCB partners J-P Contreras and Bob Hardin will join Perficient in leadership roles within the IBM EPM national business unit, reporting directly to John Jenkins, vice-president of Perficient’s IBM business group.

The consideration paid in the transaction is approximately $18m and includes $12.6m in cash and approximately $5.4m worth of Perficient common stock.

The deal included the issuance by Perficient of an aggregate of 97,755 shares of Perficient restricted stock to former JCB employees J-P Contreras, Bob Hardin, Erik Duffield, Mark Hatting and Dominic Sagar.

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