United States based private investment company Vista Equity is set to acquire UK based software company Blue Prism Group PLC (LON: PRSM) in a deal worth $1.5 billion (1.1 billion pounds).
Blue Prism engages in making enterprise robotic process automation software which provides a digital workforce designed to automate sophisticated end-to-end operational activities. Vista Equity claims that this deal will help it expand its automation technology portfolio.
Blue Prism says that it’s making plans to recommend its shareholders to vote in favor of the 1,125 pence-per-share bid announced on September 28.
In the joint statement, Vista says it agreed to this acquisition deal since it views it as an exciting and transformational moment for the growth of enterprise-grade intelligent automation and robotic process automation (RPA).
Vista claims that it will merge Blue Prism with its infrastructure and business intelligence software company TIBCO after the acquisition deal has been finalized. Currently, Vista Equity has assets over $81 billion under its management.
“Blue Prism has become a leading player in the RPA sector since it was founded in 2001, when it first pioneered the technology. Combining with Vista and TIBCO will ensure we remain at the forefront of the next generation of intelligent automation,” said the chairman and CEO of Blue Prism, Jason Kingdon.