Airbnb, Burger King and Spotify investor ends Blue Prism lawsuit after nearly £ 1.1bn takeover deal

A U.S. private equity firm that previously invested in Airbnb, Burger King and Spotify has dropped out of the race to acquire a Warrington-based intelligent robotic process automation software developer after a close buyout deal was announced. of £ 1.1 billion.

TPG Capital said it no longer intends to make an offer to Blue Prism following yesterday’s announcement.

However, the firm has indicated that it reserves the right to resume the process if with the agreement of the board of directors of Blue Prism following a withdrawal or lapsing of the offer by Bali Bidco or after announcing a firm intention to make an offer for the business by or on behalf of a new third party.

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It will also reconsider its position following the announcement by Blue Prism of a proposed “laundering” or a reverse takeover.

A deal that values ​​Blue Prism at £ 1.095 billion has been struck with Vista Equity Partners.

The company is headquartered in the United States and currently owns stakes in UK companies such as Advanced, Allocate and Finastra.

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In addition to its UK bases, Blue Prism Group is also present in the US, Europe, the Middle East and Asia.

Blue Prism has also confirmed its intention to separate the roles of chairman and chief executive officer and has started looking for a new CEO.

The company added that it had received “several non-binding proposals” to acquire over the past four months.

The deal is expected to end towards the end of this year or early 2022.

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