VISTA BLUE PRISM SOFTWARE
Simpson Thacher & Bartlett and Kirkland & Ellis are retained as legal advisers to Vista and Bidco. private equity firm Vista Equity is to buy British software firm Blue Prism (PRSMB.L) for 1.1 billion pounds (1. The latest offer from Vista is described as "final", but does allow the possibility of an increase should a firm offer or possible offer be made by SS&C, a provider of investment and financial services and software for the financial services and healthcare industries.īlue Prism's directors recommend unanimously that shareholders vote in favour of the latest Vista offer at a meeting scheduled for 9 December.Ĭatalyst Partners is acting as lead financial adviser to Blue Prism.īofA Securities and Investec Bank are acting as joint financial adviser and corporate broker to Blue Prism.ĬMS Cameron McKenna Nabarro Olswang is retained as legal adviser to Blue Prism. Since that offer was recommended, Blue Prism revealed it had attracted the attention of another suitor, US-headquartered SS&C Technologies Holdings, regarding a possible cash offer of 1,200 pence per Blue Prism share. The offer of 1,250 pence per share is from funds related to Vista Equity Partners which had an earlier bid worth about £1.1bn, or 1,125 pence per share, recommended by the Blue Prism board in September. Subject to Blue Prism’s shareholders’ approval, court approval, regulatory approvals, and other conditions, the deal is expected to close late in Q4 2021 or early in Q1 2022.An increased takeover offer of about £1.22bn has been recommended to shareholders of Blue Prism, the Warrington-based robotics software specialist. Vista Funds has secured undertakings in favour of the deal from Blue Prism’s directors and founders and Lead Edge Capital Management, who have a combined stake of around 23% in the UK-based firm. Vista Equity Partners senior managing director and Vista Flagship Fund co-head Monti Saroya said: “Vista is a leading investor in Robotic Process Automation technologies and views the acquisition of Blue Prism and combination with TIBCO as an exciting and transformational moment for the growth of enterprise-grade Intelligent Automation and Robotic Process Automation.” The combination of Blue Prism and TIBCO Software’s technology is expected to yield considerable synergies and market differentiation. TIBCO Software had developed a connected intelligence platform to enable enterprises in predicting outcomes in real-time and at scale. It offers integration, data management, and analytics software to help leverage real-time data for making quicker, smarter decisions. “We have made excellent progress in creating a company with a robust global customer base and rapid revenue growth – rising from £6 million when we listed in 2015 to an expected reported revenue of over £160 million this year.”Īfter the closing of the deal, Vista Funds plans to indirectly transfer Blue Prism to its portfolio company TIBCO Software.īased in the US, TIBCO Software is active in the enterprise data space. Vista is said to be considering potentially material headcount reductions of 8 to 10 per cent of the approximately 4,750 employees of the merged companies. Vista intends to merge Blue Prism into TIBCO Software. The company’s intelligent automation platform is said to connect both the human and digital workforce with systems, cognitive tools, applications and technologies such as artificial intelligence (AI), machine learning, optical character recognition (OCR), and the Blue Prism Digital Exchange.īlue Prism chairman and CEO Jason Kingdon said: “Blue Prism has become a leading player in the RPA sector since it was founded in 2001, when it first pioneered the technology. Blue Prism is the trading name of the Blue Prism Group plc.
It is claimed to have users around the world in over 2,000 businesses, which include Fortune 500 companies. Vista Equity Acquires Blue Prism for 1.5 Billion By RPA Staff SeptemOne of the two firms that had been rumored to be in talks with Blue Prism has agreed to acquire the London-based RPA technology provider for 1.5 billion (£1.1 billion), according to a Reuters report.
The acquisition by Vista Funds will be executed through a scheme of arrangement.īlue Prism is engaged in providing intelligent automation solutions for its enterprise customers. (Credit: Tumisu from Pixabay)īlue Prism Group, a UK-based publicly-listed robotic process automation (RPA) software provider, has agreed to a £1.1bn takeover by Vista Equity Partners’ Vista Funds.Īs per the terms of the deal, Vista Funds is offering 1.12p per share in cash to Blue Prism’s shareholders. Vista Funds to acquire RPA software provider Blue Prism. Blue Prism will be combined with enterprise data company TIBCO Software after the closing of the deal
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