05:09 AM EDT, 05/06/2024 (MT Newswires) -- Perficient (PRFT) reported Q1 adjusted earnings Sunday of $0.77 per diluted share, down from $1.04 a year earlier.

Analysts polled by Capital IQ expected $0.80.

Revenue for the quarter ended March 31 was $215.3 million, compared with $231.4 million a year earlier.

Analysts surveyed by Capital IQ expected $216.5 million.

In a separate announcement, Perficient also said it has agreed to be acquired by an affiliate of BPEA Private Equity Fund VIII, part of EQT AB, in an all-cash transaction that values the company at about $3 billion.

Under the deal, Perficient stockholders will receive $76 per share in cash for each common share they own as of the closing of the transaction.

The deal is expected to close by the end of the year. Upon completion, Perficient's shares will no longer trade on Nasdaq and it will become a private company.

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