Going Private • Information Technology

EQT Private Capital Asia and CPP Investments Acquire Perficient

On May 5, 2024, private equity firm EQT Private Capital Asia and pension CPP Investments acquired information technology company Perficient for 3.0B USD

Acquisition Context
  • This is EQT Private Capital Asia’s 6th and CPP Investments’ 15th transaction in the Information Technology sector.
  • This is EQT Private Capital Asia’s 6th and CPP Investments’ 30th largest (disclosed) transaction.
  • This is EQT Private Capital Asia’s 13th and CPP Investments’ 73rd transaction in the United States.
  • This is EQT Private Capital Asia’s 1st and CPP Investments’ 1st transaction in Missouri.

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M&A Deal Summary

Date May 5, 2024
Target Perficient
Sector Information Technology
Buyer(s) EQT Private Capital Asia
CPP Investments
Deal Type Going Private
Deal Value 3.0B USD
Advisor(s) BofA Securities
Wells Fargo Securities (Financial)
Kirkland & Ellis (Legal)

Target Company

Perficient

Saint Louis, Missouri, United States
Perficient's corporate headquarters in St. Louis, Missouri.
Perficient's corporate headquarters in St. Louis, Missouri.
Perficient is a digital transformation consulting firm serving Global 2000 and enterprise customers throughout North America with a broad array of information technology, management consulting, and creative services. Solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others. Perficient was founded in 1999 and is based in St. Louis, Missouri.
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Buyers Overview 2

Buyer

EQT Private Capital Asia

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT Private Capital Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. EQT Private Capital Asia was formed in 1997 and is based in Hong Kong.


Deal Context for Buyer #
Overall 65 of 69
Sector: Information Technology 6 of 6
Type: Going Private 9 of 11
State: Missouri 1 of 1
Country: United States 13 of 14
Year: 2024 2 of 6
Size (of disclosed) 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-03 WSO2

Santa Clara, California, United States

WSO2 provides application development and identity and access management software to enterprises globally, with over 80% of revenue coming from blue-chip customers in the Americas and EMEA. WSO2 was founded in 2005 and is based in Santa Clara, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-03 Keywords Studios

Dublin, Ireland

Keywords Studios is an international technical services provider to the global video games industry. The company provides integrated art creation, localization, testing, audio, and customer care services across 50 languages and 14 game platforms to a blue-chip client base in more than 15 countries. Keywords Studios was founded in 1998 and is based in Dublin, Ireland.

Buy £2.1B
Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


Deal Context for Buyer #
Overall 152 of 176
Sector: Information Technology 15 of 18
Type: Going Private 28 of 34
State: Missouri 1 of 1
Country: United States 73 of 82
Year: 2024 4 of 15
Size (of disclosed) 30 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-01 Viking Cruises

Woodland Hills, California, United States

Viking Cruises offers destination-focused journeys on rivers, oceans, and lakes around the world. Designed for experienced travelers with interests in science, history, culture, and cuisine. Viking Cruises was founded in 1997 and is based in Woodland Hills, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-06 Allete

Duluth, Minnesota, United States

Allete is an energy company operating minnesota power, an electric utility that serves 150,000 residents, 14 municipalities, and industrial customers. ALLETE was founded in 1906 and is based in Duluth, Minnesota.

Buy $6.2B