![]() The value of Blue Prism had fallen before the deal was announced, indicating that public investors were unenthused with its performance Vista is paying a premium for the company through Bidco, though less than what Blue Prism was worth earlier this year, before its most recent declines. The company was not growing particularly quickly for its level of unprofitability, despite making progress in stemming red ink. ![]() ![]() “Combining with Vista and Tibco will ensure we remain at the forefront of the next generation of intelligent automation: We can expand the range of products we offer our customers, with Tibco’s global footprint and technologies and, as a privately owned company, we will also have greater access to capital to pursue new growth opportunities via product investment and other potential M&A,” Kingdon said in a statement. Jason Kingdon, chairman and CEO at Blue Prism, sees this as the best path to put it on more solid footing. One of those options was a sale, which it decided was the best approach for the company. “The Blue Prism Board has considered a range of strategic options given the strategic and operational headwinds facing the company, the significant risks in execution and the shareholder consultation feedback,” the company said in the filing. While it’s unclear why it used that financial mechanism, the end result is the private equity group is buying Blue Prism and folding it into another Vista property, Tibco, which the firm acquired in 2014 for $4.3 billion.īlue Prism, by its own admission in the filing, was facing tough times and has been exploring its options since its annual general meeting last March. It’s a complex deal in which Vista set up an entity called Bali Bidco Limited - which, according to the filing, is indirectly owned by Vista Funds - to make the purchase on its behalf. ![]() While we have seen a lot of RPA startups being acquired by larger vendors over the last year, this is the first deal involving one of the top three vendors in the space. UK takeover rules reserve the right for Vista to withdraw its final offer and come back with a higher bid to compete with SS&C's offer.The robotic process automation (RPA) market has been red hot over the last year, and one of the market’s pioneers, Blue Prism, was sold to Vista Equity Partners for £1.095 billion ($1.5 billion USD), according to a filing in Great Britain this morning. SS&C said it intends to maintain Blue Prism's British headquarters as a UK robotic process automation centre.īlue Prism shareholder Coast Capital, which owns around 2.8% of the software company, last week had objected to Vista's revised offer saying it undervalues the firm and had instead backed the possible offer from SS&C made in mid-November. Vista did not immediately respond to a Reuters request for comment outside their regular business hours. U.S.-based fintech company SS&C's all-cash offer of 1,275 pence per Blue Prism share is higher than its earlier possible bid of 1,200 pence, and is above private equity firm Vista's final offer of 1,250 pence.īlue Prism chief Jason Kingdon said the combination with SS&C will offer access to "significant capital resources and investment in R&D alongside access to SS&C's extensive 18,000 customers".īlue Prism directors intend to unanimously recommend that shareholders vote in favour of the SS&C offer. Dec 1 (Reuters) - Software group Blue Prism (PRSMB.L) agreed to a 1.24 billion pounds ($1.65 billion) takeover offer from SS&C Technologies (SSNC.O) on Wednesday, withdrawing its backing for a bid from rival suitor Vista.
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