Digital consulting firm Perficient has acquired Overactive, a nearshore software development company that generates annual revenue of approximately $ 40 million.
This is technology merger and acquisition deal number 649 that ChannelE2E has covered so far in 2021. See all tech merger and acquisition deals for 2021 and 2020 listed here.
Perficient and hyperactive: about each business
Overactive, based in Montevideo, Uruguay, employs nearly 700 software developers. The company’s expertise extends to the design, development, testing and customer support of custom software applications. Overactive also has a Fortune 1000 customer base, although ChannelE2E doesn’t know companies by name.
The agreement expands Perficient’s presence in Latin America, adding nearshore software development sites in Colombia, Argentina, Uruguay and Chile, the buyer said.
Perficient, based in St. Louis, Missouri, is a digital consulting firm and a global provider of IT solutions. The publicly traded 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:
- Revenue 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 Hyperactivity: An Executive Perspective
In a prepared statement on the deal, Perficient CEO Jeffrey Davis said:
“We are delighted to continue to build our nearshore delivery capability, enhance our digital capabilities and continue our expansion in Latin America with the strategic acquisition of Overactive. Our fully integrated, multi-shore 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 talent in offshore software and digital development than onshore. Our global talent, coupled with our strong presence in the United States, enables our clients to scale rapidly, innovate rapidly and reduce costs to better meet growing customer demands, transform their businesses and stay ahead of the competition.
Addition of Overactive CEO Nicolás Chiappara:
“Perficient is well known for its impressive global growth and expertise in nearshore strategic delivery across a wide range of technology platforms. For over 13 years, Overactive’s experienced project teams have been dedicated to delivering excellence to our clients, and we are delighted to partner with Perficient, a trusted leader in delivering end-to-end digital solutions to customers. largest companies in the world. Together, we are strengthening our software development services while supporting the organization’s growing dominance in Latin America and beyond.
Chiappara now joins Perficient “in a key leadership role”, although her specific business title was not mentioned in the M&A announcement.
Perficient: Previous acquisitions
Perficient has acquisition experience. Follow a list of Perficient acquisitions here.