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TOWN AND COUNTRY — Perficient, a Town and Country-based consulting firm, will sell to a private equity group, the companies announced Sunday evening. EQT AB, the private equity group, has agreed to an all-cash transaction that values Perficient at roughly $3 billion. After the deal closes, Perficient will become a private company. "Today's announcement is the result of a comprehensive review by the Board to maximize value for the company and its shareholders," Perficient Board Chair Jeffrey Davis said in a statement. "With this agreement with EQT, we will provide our shareholders with compelling, certain cash value for their shares while continuing to support our clients in exceeding expectations, outpacing the competition and growing their businesses," he said. The company's headquarters will remain the region. CEO Tom Hogan and his management team will continue to run the business. Perficient stock jumped 52% on the news, closing Monday at $73.26. Perficient was formerly headquartered in Austin, Texas. The company's 2001 acquisition of Vertecon gave it its first St. Louis presence, and the firm gradually shifted more jobs to the region. The company moved its headquarters to the St. Louis region in 2009 and grew quickly in following years. Revenues tripled over the next decade. Davis, who was formerly CEO, stepped down from that position last year and moved to the executive chairman role. The company also added a board seat. As of 2020, the company had 350 local employees. In a memo to employees, Hogan said Perficient would hold an all-company town hall meeting Monday to provide more information. "Perficient is a people business," the memo states. "EQT understands our value is embodied by the skill and talent of our employees. So for our colleagues, it will be business as usual." The deal is expected to close by the end of the year. It received unanimous board approval. There are more billionaires from St. Louis than just Jack Dorsey. ');
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