Perficient Acquires Talos: IT Consulting Focus Areas
Perficient, based in St. Louis, Missouri, is a digital consultancy and global IT solutions provider. The publicly held company is a member of the Russell 2000 index and the S&P SmallCap 600 index.
Perficient has been in growth mode. For the quarter ended June 30, 2021:
Revenues increased 26% to $184.1 million from $146.3 million in the second quarter of 2020; and
Net income increased 151% to $16.6 million from $6.6 million in the second quarter of 2020.
Talos, based in Colombia, South America, has roughly 175 employees. The company’s clientele includes Fortine 1000 customers across healthcare, financial services, technology, and business services, Perficient says.
In a prepared statement about the deal, Perficient CEO Jeffrey Davis said:
“We are excited to grow our nearshore delivery capacity, enhance our commerce capabilities, and further expand our presence in Colombia with the acquisition of Talos Digital. The need for enterprises to digitally evolve and rapidly build has never been more important. Talos brings meaningful SAP Commerce expertise to our portfolio, further enhancing our ability to deliver innovative and engaging customer experience solutions on behalf of our enterprise clients.”
Added Talos CEO Amyn Gillani:
“Perficient is well known for its global and nearshore delivery expertise across a wide range of technology platforms, and is a trusted leader in providing end-to-end digital solutions to the world’s leading enterprises. We’ve been impressed by the global growth and are excited to join and support the organization’s expanding dominance in Latin America and beyond.”
Perficient: Previous IT Consulting Acquisitions
Perficient, founded in 1997, has extensive acquisition experience. Example deals include:
More Perficient acquisitions could be coming. During a July 2021 earnings call with Wall Street analysts, Perficient CEO Jeffrey Davis said the company could potentially acquire as many as three companies before the end of 2021. Talos marks the first of those planned deals.
Still, Perficient is being careful not to overspend on M&A deals. Davis Noted:
“Valuations in some cases have gotten a little nutty. If you’ve followed Perficient for a very long time, I think you know that we’ve got a very disciplined program.”