Management consultancy Perficient buys Stone Temple Consulting

13 August 2018

Digital transformation specialist Perficient has acquired digital marketing agency Stone Temple Consulting. The deal reinforces Perficient’s capabilities in digital marketing, content, and search engine optimization. The consultancy will add Stone Temple founder and CEO Eric Enge to its roster, along with almost 60 professionals from the Stone Temple team.

St. Louis-based Perficient provides management and IT consulting services to clients across North America, with a particular specialization in digital transformation. The firm provides services in the areas of digital strategy, marketing, creative, custom app and mobile development, platform implementations, and Internet of Things. Founded in 1997, the firm has over 2,800 employees and posted revenues of $486 million in 2016. Perficient has 22 offices in the US, and a further 7 offices across Canada, Mexico, the UK, China, and India.

Now the firm has strengthened its digital capabilities with the acquisition of Stone Temple Consulting. The Framingham, MA-based digital marketing agency supports its clients with content marketing, search optimization, and social media services. Also founded in 1997, Stone Temple banks $9 million in revenues annually.

Management consultancy Perficient buys Stone Temple Consulting

“Stone Temple’s capabilities are highly complementary to those of our award-winning digital agency, Perficient Digital,” remarked Perficient chairman and CEO Jeffrey Davis. “Stone Temple’s reputation for delivering excellent search engine optimization and content marketing solutions, customer-centric mentality, and solid client roster ensures a strong cultural fit and compelling opportunities for accelerated growth moving forward.”

In addition to reinforcing Perficient’s digital marketing and SEO capabilities, the deal also strengthens the consulting firm’s presence in the Boston area, while adding strategic client relationships across numerous industries. The firm will also welcome about 60 highly skilled professionals, including Stone Temple founder and CEO Eric Enge. A 2016 US Search Personality of the Year (US Search Awards) and 2016 Search Marketer of the Year (Search Engine Land’s Landy Awards), Enge will join Perficient in a ‘key leadership role.’

“Perficient and Perficient Digital are well known for expertise across many technology platforms and are widely-regarded as one of the largest and most capable digital transformation consulting firms in the country,” commented Enge. “We’re thrilled to join the Perficient team and accelerate our collective opportunities for continued growth and success.”

The purchase of smaller marketing and ad agencies – especially digital – is a hot trend among consultancies as they expand into the advertising space. Deloitte Digital and Accenture Interactive have already become industry heavyweights through a feverish pace of acquisitions as the firms seek to further become one-stop shops that add creative and digital marketing support to business and strategy advisory services.


OneDigital buys Northwestern Benefit in company's largest acquisition yet

11 April 2019

Human resources and benefits consultancy OneDigital Health and Benefits has acquired Northwestern Benefit, the largest privately held benefits broker in Georgia.

Atlanta-based OneDigital has carried out an aggressive acquisition strategy in past years, completing 28 deals in 2018, as well as five in 2019 thus far. Its recent acquisitions have included consulting firms Paradigm Group, Cherry Creek Benefits, and Veritas Risk Services. OneDigital’s rapid expansion last year boosted annual revenue by $100 million in 2018, reaching $400 million.

OneDigital’s core offerings include strategic benefit advisory services, analytics, compliance support, human resources management technology, and insurance broking. The firm has more than 80 offices in the United States.

The consulting firm has continued its accelerated growth strategy with the purchase of benefits and HR consultancy Northwestern Benefit, which is also based in Atlanta. “This represents an exciting milestone for OneDigital, where our largest acquisition to date is also located right here in our home state of Georgia,” Adam Bruckman, CEO of OneDigital, said. “Northwestern lets us compete in the Atlanta benefits marketplace in an entirely new way.”OneDigital buys Northwestern Benefit in company's largest acquisition yetThe acquired firm was founded in 1996, and provides benefits, HR, compliance, wellness, education, and workforce planning advisory services to clients in George and across the US. Northwestern Benefit’s 150 employees will join OneDigital, bringing the firm’s headcount to over 1,600 employees, and its employer client count to approximately 50,000.

OneDigital’s chief growth officer, Mike Sullivan, highlighted Northwestern’s excellent sales culture and client service models as factors in the deal, while noting that the deal will significantly expand the firm’s middle market scale and capabilities. Sullivan expects more deals on the horizon, as OneDigital seeks to scale up further. “We expect north of 25 acquisitions again this year to bring us over the $500 million revenue threshold,” he said.

David Asbury, CEO of Northwestern Benefit, will join OneDigital as a senior managing principal. “As the benefits space continued to consolidate and we considered acquirers, it was incredibly important to me to find the right partner,” he said. “With OneDigital’s scale, reach and long-term vision, we knew our organizations would fit together and be stronger together right off the bat.”

As employment levels remain at record highs, employers are increasingly turning to effective and comprehensive benefits packages in order to attract and retain a dwindling pool of talent. HR and benefits firms help employers strategize the ideal benefits and compensation packages to get the talent they need, while doing so in the most cost-effective manner. “In a rapidly changing economy, an employer’s ability to attract and retain talent is often directly tied to the benefits they can provide, and OneDigital ensures we’re supplying our clients with the most robust health, wealth, and HR advisory services,” Bruckman said.