Milwaukee-based Zeon Solutions Inc. has been acquired by St. Louis-based technology consulting firm Perficient Inc. for about $35.7 million in cash and stock.
The companies expect the transaction to close in January 2015.
Zeon is a $23 million annual services revenue business and IT consulting firm.
Rupesh Agrawal, Zeon’s chief executive officer, will join Perficient in a key leadership role. Zeon’s Milwaukee and Ann Arbor locations, as well as an off-shore delivery center in Nagpur, India, will be integrated into Perficient, along with almost 400 employees.
“Perficient’s commitment to, and reputation for, delivering excellence is highly regarded across many industries and technology platforms,” said Agrawal. “We are thrilled to join the Perficient team and work to grow and realize success for our customers in new and exciting ways.”
Perficient, which is publicly traded on the NASDAQ, has annual revenue of about $500 million. Zeon will expand its e-commerce, content management, product information management, mobile and digital marketing services and solution expertise. The acquisition is expected to be accretive to its adjusted earnings per share.
“We are excited to broaden and deepen our commerce expertise with the innovative capabilities Zeon Solutions brings to Perficient,” said Jeffrey Davis, Perficient’s chief executive officer and president. “Additionally, their formidable reputation, customer-centric mentality, strong client roster and demonstrated propensity to consistently grow revenues and profitability ensure a strong cultural fit and compelling opportunities for accelerated growth moving forward.”
“Today’s leading enterprises optimize their customers’ online commerce experiences and drive volume by leveraging sophisticated digital marketing and search engine optimization techniques, along with outstanding user experiences. Zeon Solutions has been well-positioned and succeeding in this dynamic space for many years,” said Ed Hoffman, Perficient’s vice president of digital experience solutions.