Business Digest

St Louis Post-Dispatch (MO), July 17, 2018 | Go to article overview

Business Digest


Perficient buys Stone Temple consultants - Town and Country-based information technology consultant Perficient acquired another IT consulting firm, Stone Temple Consulting Corp.

The Boston firm will add $9 million to Perficient's top line, which in 2017 totaled $485 million.

The deal is expected to broaden Perficient's digital marketing and content marketing services, as well as beef up the company's presence in the Northeast. The acquisition also adds 60 IT consultants to Perficient's headcount.

Perficient has acquired more than a dozen companies over the last several years.

St. Louis buys two downtown parking lots - The city of St. Louis' Land Clearance for Redevelopment Authority has acquired two downtown parking lots near the convention center for $8.5 million.

The city bought the properties, which are adjacent to each other, from the Parking REIT, a Las Vegas-based real estate investment trust.

The lots are at 1010 Convention Plaza and 901 Lucas Avenue, just north of the Washington Avenue and 10th Street intersection. Combined, the lots have 223 parking spaces spread over 2.33 acres.

According to a filing with the SEC, the LCRA also agreed to pay 50 percent of the premium associated with paying off two commercial mortgage-backed security loans that were used as collateral for other lots the Parking REIT owns, including some in St. Louis.

The Parking REIT still owns several other St. Louis area parking lots. The St. Louis market accounts for 6.8 percent of the REIT's investment portfolio and 6.6 percent of its latest quarterly revenue stream.

Illinois program to offer retirement savings plan - A new state program will automatically deduct money from the paychecks of about 1.2 million Illinois residents for retirement savings.

The move could reduce the use of food stamps, Medicaid and other publicly funded social programs, said Illinois Treasurer Michael Frerichs. …

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