Digital consulting firm Perficient has acquired Overactive, a nearshore software development firm that generates roughly $40 million in annual revenue.
This is technology M&A deal number 649 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Perficient and Overactive: About Each Company
Overactive, based in Montevideo, Uruguay, employs nearly 700 software developers. The company's expertise spans custom software application design, development, testing and support for customers. Overactive also has Fortune 1000 clientele, though ChannelE2E does not know the companies by name.
The deal expands Perficient’s presence in Latin America, adding nearshore software development locations in Colombia, Argentina, Uruguay, and Chile, the buyer said.
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.
Perficient Acquires Overactive: Executive Perspectives
In a prepared statement about the deal, Perficient CEO Jeffrey Davis said:
“We're excited to continue to strengthen our nearshore delivery capacity, enhance our digital capabilities, and further expand across Latin America with the strategic acquisition of Overactive. Our multi-shore, fully-integrated, global delivery approach continues to be a key driver of growth, and a compelling differentiator in the market. With the addition of Overactive, we now have more software and digital development talent offshore than onshore. Our global talent, coupled with our strong U.S. presence, enables our clients to scale quickly, innovate rapidly and reduce costs to better meet rising customer demands, transform their business, and outpace the competition.”
Added Overactive CEO Nicolás Chiappara:
“Perficient is well known for its impressive global growth and strategic nearshore delivery expertise across a wide range of technology platforms. For more than 13 years, Overactive’s experienced project teams have been dedicated to delivering excellence for our clients, and we’re excited to join forces with Perficient – a trusted leader in providing end-to-end digital solutions to the world’s leading enterprises. Together, we’re bolstering our software development services while supporting the organization’s expanding dominance in Latin America and beyond.”
Chiappara now joins Perficient "in a key leadership role," though his specific business title was not mention in the M&A announcement.
Perficient: Previous Acquisitions
Perficient has acquisition experience. Track a list of Perficient acquisitions here.
