AUSTIN, Texas--(BUSINESS WIRE)—March 23, 2004--Perficient, Inc. (NASDAQ: PRFT - News), a leading eBusiness solutions provider to Global 3000 companies in the central United States, announced today that it received notice that Morton Meyerson and a group of investors are planning to increase their stake in the company.
Meyerson will invest $550,000 in Perficient equity through the exercise of warrants to purchase common stock. Meyerson invested an additional $555,550 in Perficient in the past 60 days through the exercise of warrants, bringing his total anticipated Q1 investment to more than $1,100,000. In addition, during that same period, a group of other Perficient shareholders invested $750,000 in Perficient equity through the exercise of warrants. After giving effect to such purchases, Meyerson’s beneficial ownership of Perficient stands at 20%.
The funds raised will be used for general corporate purposes and for the company’s previously announced acquisition program.
Meyerson is the former chief executive of EDS and Perot Systems. In February 2004, Meyerson was included on Forbes Midas List – a list that “seeks to identify individuals who deploy venture capital to create wealth for their investors.”
Perficient is a leading provider of eBusiness solutions to Global 3000 companies in the Central United States. Perficient helps companies acquire and strengthen their customer relationships, reduce their costs and empower their employees by helping them create Enabled Enterprises™, Web-based infrastructures with dynamically-integrated business applications that extend enterprise technology assets to customers, employees, suppliers and partners. Perficient is an award-winning “Premier Level” IBM business partner and a recognized expert in IBM’s WebSphere® software. Perficient’s other partners consist of leading eBusiness technology and services providers including Microsoft, Stellent, Bowstreet, Wily Technology, Tibco, Mainline, Digex, Fusion and others. For more information about Perficient, which has more than 140 professionals in the Central US and Canada, please visit http://www.perficient.com/. IBM and WebSphere are trademarks of International Business Machines Corporation in the United States, other countries, or both.
Safe Harbor Statement
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements, including our estimates of fourth quarter revenue, that are subject to risk and uncertainties. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from management’s current expectations and the forward-looking statements made in this press release. These risks and uncertainties include, but not limited to, the impact of competitive services, demand for services like those provided by the company and market acceptance risks, fluctuations in operating results, cyclical market pressures on the technology industry, the ability to manage strains associated with the company’s growth, credit risks associated with the company’s accounts receivable, the company’s ability to continue to attract and retain high quality employees, accurately set fees for and timely complete its current and future client projects, and other risks detailed from time to time in the company’s filings with Securities and Exchange Commission, including the most recent Form 10-KSB and Form 10-QSB. The foregoing information concerning Perficient’s business outlook represents our outlook as of the date of this news release, and Perficient undertakes no obligation to update or revise any forward-looking statements whether as a result of new developments or otherwise.