Robotics software co Blue Prism accepts $1.63 bn offer from Vista Equity

Blue Prism, a robotics software company in UK, has agreed to a 1.22 billion pound ($1.63 billion) offer from U.S. private equity firm Vista Equity, topping a proposal from SS&C Technologies.
Dollar spending on technology
The increased 1,250 pence-per-share cash offer from Bali Bidco, a firm indirectly owned by Vista, comes amid objections from activist investor Coast Capital, which has supported U.S.-based SS&C’s proposal.

Blue Prism directors have unanimously recommended shareholders to vote in favour of the Vista deal at meetings scheduled for Dec. 9.

SS&C last week made a 1.16 billion pound takeover approach to the British software firm.

Blue Prism has customers such as automaker Daimler, eBay and Britain’s National Health Service. Blue Prism initially agreed to be taken over by Vista in September for 1.09 billion pounds.

U.S.-based Coast Capital, which holds a stake of around 2.8 percent in Blue Prism, objected to Vista’s proposal, saying the sale process was flawed. Blue Prism defended the deal, saying it was better than continuing as a standalone firm.

Related News

Latest News

Latest News