[May 23, 2013] Perficient Purchases Clear Task [Professional Services Close - Up] Tweet (Professional Services Close - Up Via Acquire Media NewsEdge) Perficient, Inc., a information technology consulting firm, announced it has acquired Clear Task, Inc., an $8 million annual services revenue consulting firm focused entirely on the salesforce.com product suite. According to a release, Perficient's current annualized revenues are now approaching $380 million, and the transaction is expected to be accretive to adjusted earnings per share immediately. With the acquisition, the company is raising its full year 2013 revenue guidance to a range of $362 million to $382 million from the previously provided range of $358 million to $378 million. "For quite some time we've been working to find the right Salesforce consulting team to add to Perficient," said Jeffrey Davis, Perficient's chief executive officer and president. "In Clear Task, we've found a firm with an excellent reputation, and one that is well-run with impressive bill rates and margins. This transaction represents a key strategic investment we're making to expand our cloud offerings." The company said the acquisition of Clear Task: -Expands Perficient's cloud capabilities to include offerings from each of the world's leading cloud computing providers - IBM, Microsoft, Oracle and salesforce.com; -Increases Perficient's West Coast market presence, adding an office in San Francisco; -Adds nearly 50 consulting, technology, sales and support professionals; and -Adds client relationships with several Fortune 500 and Global 2000 enterprises including customers in the high-tech, clean energy and gaming industries. Clear Task CEO Andrew O'Driscoll and Vice President of Sales and Services Marc LeCours join Perficient in key leadership roles. The consideration paid in the transaction is approximately $7.9 million and includes $6.3 million in cash and approximately $1.6 million worth of Perficient common stock (based on the average closing price of Perficient's common stock on the NASDAQ Global Select Market for the thirty trading days immediately preceding the acquisition close per the terms of the acquisition agreement). Additional consideration of up to $3.7 million is subject to certain financial achievements and working capital provisions, Perficient noted. ((Comments on this story may be sent to [email protected])) (c) 2013 ProQuest Information and Learning Company; All Rights Reserved. [ Back To TMCnet.com's Homepage ]