“We believe that the bid by SS&C for Blue Prism will, if successful, help transform SS&C into the clear tech leader (and therefore services leader) in the fund admin space. The firm is in discussions with other disgruntled investors and says around 30% of shareholders are prepared to block the acquisition. Activist investor Coast Capital is mounting a challenge to the Blue Prism-Vista deal. Meanwhile, Blue Prism shares rose roughly by 10% on the news, giving the company a market value of 1.2 billion pounds. The firm said management still believes the sale to Vista to be in the “best interest” of shareholders and recommends moving ahead with it and also “a further announcement will be made if and when appropriate”. Oct 6 (Reuters) - British software company Blue Prism PRSMB. However, the RPA vendor revealed this Tuesday that SS&C, a Windsor, Connecticut-based firm had submitted an offer of £12 per share for Blue Prism which is higher than the £11.25-a-share bid from Vista, and would give the company a slightly higher valuation of $1.56 billion based on its most recent outstanding share count.īlue Prism commented it will adjourn a shareholder meeting on the Vista offer to explore the takeover approach from SS&C. If shareholders approve it, the deal with SS&C is predicted to close in the first half of 2022.As we reported before, London-listed Blue Prism has already agreed to a deal to go private in a nearly £1.1 billion ($1.47 billion) sale to American private equity firm Vista Equity Partners. Market Tracker will look at competing offers in 2021 in more detail in its upcoming Public M&A 2021 Trend Report. On 1 December 2021, following the announcement of SS&C’s competing bid, the company’s share price closed at 1,327 pence.ĭuring 2021, UK takeovers have seen an increase in competing bids, with four companies subject to competing firm offers, and five companies that were the subject of firm offers attracting potential competing offers. The company launched an IPO on AIM in 2016, valuing the company at 78p a share. With Vista yet to release a public statement on the withdrawal of Blue Prism’s board recommendation, it is unclear whether the company will revise the terms of its final offer to compete with SS&C, an option it had reserved in the announcement of its final bid, should SS&C make a firm offer for Blue Prism.īlue Prism was founded in 2001 and asserted itself as the ‘pioneer’ in robotic process automation, attracting a customer base including Fidelity, the NHS, eBay, and Daimler. In contrast, Jason Kingdon, chairperson and CEO of Blue Prism stated that SS&C’s offer would permit the group to access ‘significant capital resources.’ Meanwhile shareholders such as Hawk Ridge Capital voiced concern regarding Blue Prism’s acceptance of what they believed to be an undervaluation of the company at Vista’s initial bid price of 1,125 pence a share. Hub es una forma intuitiva de administrar el ciclo de vida de la automatización que reúne todas las capacidades en un solo portal para obtener una vista general de su operación de automatización. Vista had announced its intention to streamline Blue Prism’s business by merging the company with San Francisco-based TIBCO Software Inc., a move that would significantly reduce its combined workforce. Diseñado para usar con SS&C Blue Prism en implementación local, plataformas en la Cloud o entornos de implementación híbridos. Blue Prism recommended Vista’s bid of 1,125 pence. Vista’s proposal had attracted criticism from shareholders and employees alike, despite Blue Prism’s board initially stating it believed the offer represented the best value for shareholders. Hawk Ridge, based in Los Angeles, owns about 3.5 of Blue Prism shares making it the 10th largest shareholder, data compiled by Bloomberg show. However, following the announcement that SS&C had decided to proceed with a firm offer of 1,275 per share for the company, Blue Prism’s directors released a statement confirming the withdrawal of their recommendation of the rival offer made by Vista, which Vista had increased on 25 November from 1,125p per share to 1,250p, valuing the company at £1.22bn. The company announced on 24 November that the meetings had been rescheduled to 9 December. (SS&C).ĭespite having initially reached an agreement with Bali Bidco Limited, a company owned indirectly by Vista Equity Partners (Vista), Blue Prism adjourned the court and general meetings planned for 19 November once talks began with SS&C, to allow the board to consider the new offer. On 1 December 2021, Warrington-based software company Blue Prism plc confirmed that the terms of an agreement to acquire the company’s issued and to be issued share capital for £1.24bn had been reached with Connecticut-based financial services software firm SS&C Technologies Holdings, Inc.
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