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[April 01, 2014]
BRIEF: Perficient acquires BioPharm for $17.6M [St. Louis Post-Dispatch :: ]
(St. Louis Post-Dispatch (MO) Via Acquire Media NewsEdge) April 01--Perficient Inc., an information technology consulting firm, said today it has acquired BioPharm Systems Inc. for $17.6 million in cash and stock.
The deal boosts Perficient's annual revenue to nearly $450 million, the Town and Country-based company said.
Jeffrey Davis, Perficient's chief executive and president, said in a statement that the addition of BioPharm, based in San Mateo, Calif., strengthens Perficient's IT consulting solutions for its healthcare and life sciences customers.
Alex Sefanov, BioPharm's president and chief executive, joins Perficient in what the company said is "a key leadership role." The $17.6 million transaction includes approximately $11.4 million in cash and $6.2 million of Perficient common stock.
Perficient is growing through acquisitions. In February, the company acquired ForwardThink Group, expanding its presence in New York and in the financial services industry.
Tim Bryant covers commercial real estate, development and other business stories for the Post-Dispatch. He blogs at Building Blocks, the Post-Dispatch development blog.
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