Buyout deal values ​​robotics pioneer Blue Prism at over £ 1bn

A take-over bid that values ​​a Warrington-based intelligent robotic process automation software developer at more than £ 1 billion has been made with a US private equity firm.

The board of directors of Blue Prism Group, which also has a base in London, has entered into an agreement 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.

The proposed deal values ​​the entire issued and to be issued share capital of Blue Prism at approximately £ 1.095 billion on a fully diluted basis.

The announcement comes after Blue Prism confirmed separate discussions with TPG Capital and Vista Equity Partners over possible takeover bids.

TPG Capital is headquartered in the United States and has already invested in Airbnb, Burger King and Spotify.

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 be finalized towards the end of this year or early 2022.

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Jason Kingdon, President and CEO of Blue Prism, said: “Blue Prism has become a major player in the RPA industry since its inception in 2001 when it was the first technology pioneer.

“We have made excellent progress in building a business with a strong global customer base and rapid revenue growth, from £ 6million when we went public in 2015 to reported revenue of over £ 160 million this year.

“Vista and TIBCO recognize the strength of what we have built and the exceptional products and services we provide to our customers.

“This is a testament to the hard work and dedication of everyone on the Blue Prism team over the years. The combination with Vista and TIBCO will allow us to stay at the forefront of the next generation of intelligent automation: we can expand the range of products we offer to our customers, with TIBCO’s global footprint and technologies; and, as a private company, we will also have better access to capital to pursue new growth opportunities through product investments and other potential mergers and acquisitions. “

Monti Saroya, Senior Managing Director of Vista and Co-Head of Vista Flagship Fund, added: “Vista is a leading investor in robotic process automation technologies and is considering acquiring Blue Prism and combining with TIBCO as an exciting and transformational time for the growth of enterprise-level intelligent automation and robotic process automation.

“We are delighted to extend this offering for Blue Prism and believe that the combination will generate significant synergies and differentiation in the market, by combining the investments in products and R&D of the two companies and by allowing the commercialization of an offering of products more broadly from existing and new customers. “

Dan Streetman, Managing Director of TIBCO, said, “Intelligent enterprise automation is becoming an essential part of digital transformation. benefit our customers and partners.

“Together, Blue Prism and TIBCO will provide access to a suite of intelligent automation capabilities to help accelerate digital transformation. “

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