06:24 AM EDT, 05/06/2024 (MT Newswires) -- Perficient (PRFT) shares surged early Monday after the digital consultancy company said it would be acquired and taken private by Swedish investment firm EQT, in an all-cash deal valued at roughly $3 billion.

Investors in Perficient will receive $76 in cash for each share they own in the company, according to a Sunday statement. Under the agreement, an affiliate of BPEA Private Equity Fund VIII, which is part of EQT, will buy Perficient.

The transaction represents a 75% premium to Perficient's closing stock price on April 29. Several media publications reported last week that the company was considering a potential sale. The company's shares jumped 54% in premarket activity.

"With this agreement with EQT, we will provide our shareholders with compelling, certain cash value for their shares while continuing to support our clients in exceeding expectations, outpacing the competition, and growing their businesses," Perficient Chair Jeffrey Davis said in the statement.

The deal, which requires approval from regulators as well as clearance from Perficient's investors, is expected to close by the end of the year. Perficient will no longer trade on the Nasdaq after the deal completes. Tom Hogan will continue as chief executive and its headquarters will remain in St. Louis, Missouri.

"In recent years, the Perficient team has been successful in expanding the scope of their offerings, and we look forward to supporting them in driving further growth," said Hari Gopalakrishnan, a partner within the EQT Private Capital Asia advisory team. "I am confident that this exciting partnership will help strengthen Perficient's unique position in the marketplace."

In a separate statement, Perficient reported first-quarter adjusted earnings of $0.77 per share, down from $1.04 the year before, missing the Capital IQ-polled consensus of $0.80. Revenue declined 7% to $215.3 million, just shy of the Street's view for $216.5 million.

The company said it is withdrawing its previously issued financial guidance for the 2024 full year and will not host an earnings conference call due to the proposed deal with EQT.

Price: 73.66, Change: +25.55, Percent Change: +53.11