IT consulting firm Perficient (PRFT -0.86%) has acquired CoreMatrix Systems, a revenue consulting firm that works specifically in cloud-computing solutions. Perficient bought CoreMatrix for $21.5 million, and the transaction is expected to influence the company's earnings per share immediately.
In buying CoreMatrix, Perficient will add 75 consulting and technology support professionals to its employee base. Perficient also hopes the acquisition will boost quality in the company's cloud computing and customer relationship management (CRM) services.
Kathy Henely, chief operating officer of Perficient, believes strong cloud-computing expertise to be vital to the company's business strategy. "There is a growing demand from enterprises to move their operations to the cloud to reduce costs, empower business innovation, and create responsive and social organizations." With the latest acquisition of CoreMatrix, she says, "Perficient can further help clients effectively address market changes through customized Service Cloud, Sales Cloud and Force.com offerings."
Since the beginning of 2013, Perficient's stock price has jumped from $11.78 to $19.85 per share, a 68% increase. The company's annual revenue has risen 74% to $320 million since 2009.