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.
READ MORE: Sony-owned video game maker Firesprite acquires counterpart Fabrik Games
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.
BusinessLive is your home for business news from the North West and you can stay in touch with all the latest news from Greater Manchester, the City of Liverpool area, Cheshire, Lancashire and Cumbria through our email alerts. -mail.
You can sign up to receive daily morning newsletters from every region we cover and weekly email newsletters covering key economic sectors, from manufacturing to technology and business. And we’ll send out last minute alerts for any stories we think you can’t miss.
Visit our messaging preference center to sign up for all the latest BusinessLive news.
For all the latest stories, views, polls and more – and news as we go – follow our BusinessLive North West LinkedIn page here.
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.