Shareholders of the UK-based publicly-listed robotic process automation software provider are being offered a revised price of 1.25p per share in cash, compared to the price of 1.12p announced by Vista Funds in September 2021


Vista Funds to acquire robotic process automation software provider Blue Prism. (Credit: Michal Jarmoluk from Pixabay)

Blue Prism Group has accepted a final takeover offer worth £1.22bn from Bali Bidco, a company which is indirectly owned by Vista Equity Partners’ Vista Funds.

As per the terms of the deal, Blue Prism’s shareholders are being offered 1.25p per share in cash.

Based in the UK, the publicly-listed company is a robotic process automation (RPA) software provider.

In September 2021, Vista Funds had reached a deal with the company for a £1.1bn takeover. Vista Funds at that time had offered to acquire all the shares of Blue Prism for 1.12p per share in cash.

Earlier this week, US-based software provider SS&C Technologies came up with a takeover offer worth around $1.6bn (£1.2bn) or 1.2p per share in cash.

Blue Prism stated that the latest offer from Vista Funds is final. The only exception is that Vista Funds has the right to raise the amount if there is a possible offer from another party or from SS&C Technologies to the RPA software firm.

The acquisition is expected to be carried out through a scheme of arrangement. Blue Prism’s board of directors has recommended the company’s shareholders vote in favour of the deal.

The company stated: “The Blue Prism Directors, who have been so advised by Qatalyst Partners as to the financial terms of the Final Offer, consider the terms of the Final Offer to be fair and reasonable.

“In providing its financial advice to the Blue Prism Directors, Qatalyst Partners has taken into account the commercial assessments of the Blue Prism Directors.”

The deal, which is subject to approval by shareholders of the RPA software firm, will close by the end of this year if the scheme gets court approval in the UK.

Post completion of the deal, Vista Funds has plans for the indirect transfer of Blue Prism to TIBCO Software, its US-based portfolio company which is engaged in the enterprise data space.