Perficient Completes Acquisition of Zeon Solutions
January 02 2015 - 12:00PM
Business Wire
The company also announces expansion of its
existing credit facility
Perficient Inc. (NASDAQ: PRFT), a leading information technology
and management consulting firm serving Global 2000 and other large
enterprise customers throughout North America, today announced it
has completed the acquisition of Zeon Solutions Incorporated and
its subsidiary, Grand River Interactive LLC, and an Indian
affiliate (collectively, “Zeon Solutions”). Details and terms of
the acquisition were previously announced on December 18th,
2014.
Additionally, Perficient expanded its existing credit facility.
The facility now provides for borrowings of up to $125 million, an
increase of $35 million over the previous availability. Wells Fargo
Bank, National Association is also now a lender to Perficient under
the facility.
“The expansion of our credit facility ensures we’ll continue to
have the financial flexibility necessary to invest in our business,
execute against our ongoing stock repurchase program, and continue
our growth strategy,” said Paul Martin, Perficient’s chief
financial officer.
About Perficient
Perficient is a leading information technology and management
consulting firm serving Global 2000® and enterprise customers
throughout North America. Perficient’s professionals serve clients
from a network of offices across North America and two offshore
locations in India and China. Perficient helps clients use
Internet-based technologies to improve productivity and
competitiveness; strengthen relationships with customers, suppliers
and partners; and reduce information technology costs. Perficient,
traded on the Nasdaq Global Select Market, is a member of the
Russell 2000®index and the S&P SmallCap 600 index. Perficient
is an award-winning “Premier Level” IBM business partner; a
Microsoft National Service Provider and Gold Certified Partner; an
Oracle Platinum Partner; a Platinum Salesforce.com Cloud Alliance
Partner; a TeamTIBCO partner; and an EMC Select Services Team
Partner. For more information, visit www.perficient.com.
Safe Harbor Statement
Some of the statements contained in this news release that are
not purely historical statements discuss future expectations or
state other forward-looking information related to financial
results and business outlook for 2015. Those statements are subject
to known and unknown risks, uncertainties, and other factors that
could cause the actual results to differ materially from those
contemplated by the statements. The “forward-looking” information
is based on management’s current intent, belief, expectations,
estimates, and projections regarding our company and our industry.
You should be aware that those statements only reflect our
predictions. Actual events or results may differ substantially.
Important factors that could cause our actual results to be
materially different from the forward-looking statements include
(but are not limited to) those disclosed under the heading “Risk
Factors” in our annual report on Form 10-K for the year ended
December 31, 2013 and in our quarterly report on Form 10-Q for the
quarter ended June 30, 2014 and the following:
(1) the occurrence of any event, change or other
circumstance that could give rise to termination of the purchase
agreement or a failure to complete the proposed acquisition due to
the inability of a party to satisfy the conditions to closing the
acquisition; (2) the possibility that we will not be able to
realize the benefits of the acquisition; (3) the possibility that
our actual results do not meet the projections and guidance
contained in this news release; (4) the impact of the general
economy and economic uncertainty on our business; (5) risks
associated with the operation of our business generally, including:
a. client demand for our services and solutions; b. maintaining a
balance of our supply of skills and resources with client demand;
c. effectively competing in a highly competitive market; d.
protecting our clients’ and our data and information; e. risks from
international operations; f. obtaining favorable pricing to reflect
services provided; g. adapting to changes in technologies and
offerings; h. risk of loss of one or more significant software
vendors; and i. implementation of our new Enterprise Resource
Planning system; (6) legal liabilities, including intellectual
property protection and infringement or personally identifiable
information; (7) risks associated with managing growth organically
and through acquisitions; and (8) the risks detailed from time to
time within our filings with the Securities and Exchange
Commission.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance, or achievements.
This cautionary statement is provided pursuant to Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking
statements in this release are made only as of the date hereof and
we undertake no obligation to update publicly any forward-looking
statement for any reason, even if new information becomes available
or other events occur in the future.
Perficient Inc.Bill Davis,
314-529-3555bill.davis@perficient.com
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