One of those possibilities was a sale, which the corporation determined was the best course of action. RPA industry Consolidation continues with sale of Blue Prism to Vista for £1.095B “Given the firm’s strategic and operational difficulties, severe execution risks, and shareholder consultation comments, the Blue Prism Board has explored a range of strategic options,” the company said in the filing. While it’s unclear why the private equity firm chose that method of financing, the final result is that Blue Prism will be purchased by Vista and folded into Tibco, which the firm purchased for $4.3 billion in 2014.īlue Prism admitted in the filing that the company was having financial difficulties and has been considering its alternatives since its annual general meeting in March. Bali Bidco Limited is indirectly controlled by Vista Funds. It’s a complicated deal in which Vista put up a business named Bali Bidco Limited to make the acquisition on its behalf, according to the filing. While many RPA startups have been purchased by larger vendors in recent years, this is the first deal involving one of the top three RPA suppliers. Sign up for the Daily Brief, Silicon Republic’s digest of need-to-know sci-tech news.According to a filing in the United Kingdom this morning, Blue Prism, one of the field’s pioneers, was sold to Vista Equity Partners for £1.095 billion ($1.5 billion USD) in the robotic process automation (RPA) business. Monti Saroya, senior managing director at Vista, added: “Vista is a leading investor in RPA 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 RPA.”ĭon’t miss out on the knowledge you need to succeed. The company has reportedly begun searching for a new CEO. Combining with Vista and Tibco will ensure we remain at the forefront of the next generation of intelligent automation.”īlue Prism also said that it was in the process of separating the roles of CEO and chair. This is testament to the hard work and dedication of all Blue Prism team members over the years. “Vista and Tibco recognise the strength of what we have built and the exceptional products and services we provide our customers. Vista has said it believes merging the companies “will yield significant synergies and market differentiation, combining the product and R&D investment of the two businesses”.Ĭommenting on the deal, Blue Prism CEO and chair 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. It plans to combine Blue Prism with Tibco, a software company it bought in 2014 for $4.3bn. Vista is a large firm with about $81bn of assets under management, focusing on enterprise software and data services. The company is one of the biggest players in the RPA market, competing with the likes of UiPath to provide corporate clients with software to automate administrative and other digital tasks. The competition caused Blue Prism’s share price to climb more than 39pc earlier this month.īlue Prism has been listed on the London Stock Exchange’s AIM sub-market since 2016, and has a client book of more than 2,000 companies that includes the UK’s National Health Service, eBay, Siemens, 3M and Jaguar Land Rover. Ultimately, of the two Texas-based firms, Vista won out. The company has attracted attention from multiple US private equity outfits in the last few weeks, with TPG Capital also conducting discussions. Pending acceptance by shareholders, the deal is expected to close later this year or in the first quarter of 2022. The offer of £11.25 per share, which the company’s board will recommend that shareholders take, represents about a 33pc premium on UK-based Blue Prism’s opening price this morning (28 September) of £8.45.īlue Prism’s board, which plans to unanimous endorse the deal, described it as “fair and reasonable”. Robotic process automation (RPA) company Blue Prism has approved a £1.1bn takeover offer from US private equity firm Vista Equity Partners. The RPA software company has attracted attention from multiple US private equity outfits in recent weeks.
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