Blue Prism agrees to £1.2bn Vista Equity takeover

Shares of Warrington-based robotics software company Blue Prism Group rose almost 7% to around £12.95 on Friday after it agreed to a £12.50 per share cash final takeover offer from US private equity firm Vista Equity — worth almost £1.22 billion.

The deal tops a proposal from Connecticut-based financial services software firm SS&C Technologies.

The increased offer from Bali Bidco Ltd, 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 that shareholders should vote in favour of the Vista Equity deal at meetings scheduled for December 9.

On November 16, Blue Prism said it received a preliminary approach from SS&C Technologies Holdings regarding a possible cash offer for Blue Prism of £12 per share.

Blue Prism’s customers include the NHS, Daimler, Fidelity and eBay.

If the Vista Equity deal for Blue Prism goes through, Vista has said it would “indirectly transfer” the business to Tibco, a Vista portfolio company.