Senior Management Led | Transactions

Javelin Solutions Has Sold Its Business To

Exclusive Financial Advisor to Perficient

Perficient, Inc. (Nasdaq: PRFT) a leading eBusiness solutions provider to Global 2000 and major midsize companies, enables its clients and partners to optimize profitability and strengthen customer relationships through reliable, quick- to-market eBusiness solutions.

On October 29, 2001, Perficient, Inc. and Javelin Solutions, Inc., a privately-held eBusiness solutions firm based in Minneapolis, announced that they signed a definitive merger agreement under which Perficient would acquire Javelin. The deal, which was accretive to earnings, created a profitable eBusiness services leader with annual sales in excess of $30 million, more than 225 staff in six offices across North America and Europe and client relationships with over 250 Global 2000 and midsize companies. Outcome Capital initiated discussions, helped negotiate and served as the exclusive advisor to Perficient on the deal.

“We continue to execute our focused plan to build the dominant eBusiness solutions provider in the Midwestern and Southwestern US,” said Jack McDonald, Chairman and Chief Executive Officer, Perficient. “Minneapolis is an attractive market where we intend to invest and grow. Moreover, there’s a tremendous opportunity to leverage Javelin’s agribusiness and banking expertise on a national, and international level.”
Javelin’s owner-managers, all veterans of large consultancies, assumed senior roles at Perficient following the closing of the transaction.

“This transaction makes compelling sense for our clients and our people,” said Dale Klein, Chief Executive Officer of Javelin Solutions. “Javelin’s existing clients can expect the same outstanding service they currently receive as key executives, account managers, technologists and project managers will continue to play prominent roles in the new company. We can offer our clients a broader and stronger array of services.”