St. Louis, Missouri-based IT services and consulting firm Perficient has acquired Catalyst Networks, a Georgia-based digital consultancy that's also known as Brainjocks.
This M&A deal 158 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Brainjocks, which generates $13 million in annual revenue, has a strong Sitecore platform focus. Sitecore is a customer experience management company that provides web content management and multichannel marketing automation software. generates $13 million in annual revenue.
Perficient gains roughly 80 Catalyst Networks employees, including 30 global delivery resources in Eastern Europe.
Perficient Acquires Sitecore Talent: Executive Perspectives
Describing the deal, Perficient Chairman and CEO Jeffrey Davis said:
“We are excited to continue strengthening our Sitecore consulting and marketing technology capabilities with the strategic acquisition of Brainjocks. Perficient has more than 10 years of experience designing, building, and delivering enterprise-grade platforms powered by the Sitecore platform. Brainjocks’ expertise and capabilities are highly complementary to those of our award-winning Sitecore practice, and further enhance our ability to engineer effective and personalized digital experiences for our clients and their customers.”
Brainjocks’ President and CEO Brian Beckham will join Perficient in a key leadership role. Beckham said of the deal:
“Perficient is well known for its expertise across many technology platforms, including Sitecore, and we’re thrilled to join the team. With Perficient’s expansive expertise across platforms and industries, we’ll expand our ability to deliver integrated digital platforms that provide innovative enterprises more autonomy and flexibility in the experiences they imagine, create, engineer, and run for customers.”
Perficient Acquisitions, Growth
Perficient has seen steady growth since the company's 1997 launch. The company has grown both organically and through multiple acquisitions. Example deals include:
- Jan 2020: MedTouch, a digital healthcare marketing and technology consulting firm from Boston, Massachusetts.
- May 2019: Sundog Interactive Inc., a marketing and technology consulting firm and Salesforce partner.
- Nov 2018: Elixiter, a Marketo partner and marketing consultancy.
- Apr 2018: MicroStrategy partner Southport Services Group, an IT consulting firm with business intelligence specialist.
- Jun 2017: Clarity Consulting, a Microsoft cloud partner focused on custom development and digital experience design.
- Jan 2017: RAS & Associates, a management consultancy.
For the quarter ended December 31, 2019, Perficient reported:
- Total revenue up 10 percent to $145.2 million from $131.7 million in the fourth quarter of 2018; and
- net income up 58 percent to $11.8 million from $7.5 million in the fourth quarter of 2018.
