Perficient Acquires RAS & Associates for Vertical Market IT Consulting
RAS & Associates offers IT and business expertise in such vertical markets as oil and gas, cable and telecom, and high-tech. CEO Rob Swanson is joining Perficient in a “key leadership role,” although his new title wasn’t disclosed.
Perficient, like many management consulting firms these days, promotes “digital transformation” expertise to Global 2000 and enterprise customers throughout North America. According to Perficient, the RAS & Associates acquisition:
- Enhances and expands Perficient’s management consulting offerings with additional strategy, operations and business process optimization consulting;
- increases Perficient’s presence in the Rocky Mountain region and in the Denver market;
- adds approximately 40 consulting, technology, sales and G&A professionals; and
- brings strategic client relationships with Fortune 500 customers in industries including Oil and Gas, Cable and Telecommunications and High-Tech.
Perficient Acquires RAS & Associates: Jumpstarting Growth?
Perficient is one of North America’s larger IT solutions providers but the company hasn’t been growing. For its quarter ended Sept. 30, 2016, revenues dipped 1 percent to $119.2 million, services revenues dipped 2 percent to $103 million, gross margin slipped 10 percent, and net income dropped about $2 million to $5.5 million, the company disclosed in November 2016. The company will next announce earnings on March 1, according to Yahoo Finance.
Meanwhile, RAS & Associates is no stranger to M&A deals. The company, launched in 2008, acquired Gerbig Management — an Oil & Gas technology consulting firm — in 2014. For its part, Perficient has acquired multiple companies over the years.
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