Perficient, which is one of Microsoft's most active cloud integration partners, is adding to its Salesforce.com services expertise with the acqusition of CoreMatrix Systems, a $15 million consulting firm.
Perficient estimates its current annualized revenues at nearly $400 million. The $21.5 million transaction of CoreMatrix includes $18.5 million in cash and approximately $3 million worth of Perficient common stock. An extra "consideration" of up to $10 million will be paid, subject to "certain financial achievements and working capital provisions," according to the press release issued by the companies.
This is St. Louis-based Perficient's second acquisition this year related to Salesforce.com (it's first was San Francisco-based Clear Task), and the development will extend its regional presence in the east.
“CoreMatrix’s strong East Coast presence complements our acquisition earlier this year of West Coast-based, salesforce.com-focused Clear Task," said Jeffrey Davis, Perficient’s chief executive and president, in a statement. "We now have the comprehensive capacity to sell and deliver Salesforce solutions across the entire United States."
The deal will add nearly 75 consulting, technology and sales professionals to the Perficient payroll, including CoreMatrix Managing Members Frank McMahon and Paul Nix, who will assume leadership roles. The transaction will also add companies like American Express, AVON, Bank of America, Blue Cross Blue Shield, and Norwegian Cruise Line to Perficient's client roster. CoreMatrix has completed more than 1,800 cloud computing engagements.
Aside from Microsoft and Salesforce, Perficient works closely with some of the better known enterprise software players such as Informatica, Oracle, IBM, EMC and TIBCO.