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Blue Prism Going Private asVista Seals $1.5 Billion Deal for the Software Firm
Private equity firm Vista Equity Partners is to acquire automation software developer Blue Prism Group Plc for about 1.1 billion pounds ($1.5 billion), in yet another takeover of a U.K. tech company by a foreign buyer.
Vista aims to combine Blue Prism with existing portfolio company Tibco Software Inc., which it acquired in 2014. It plans to maintain Blue Prism’s U.K. headquarters and invest in research and development, people familiar with the matter said. One of its independent directors, Murray Rode, was previously a longtime member of Tibco Software’s management and served as its chief executive after its purchase by Vista.
“Combining with Vista and TIBCO will ensure we remain at the forefront of the next generation of intelligent automation,” said Jason Kingdon, chairman and CEO of Blue Prism.
The price for Blue Prism marks a major discount to U.S.-based rivals such as UiPath, the New York-listed company with a $28 billion market cap, and Automation Anywhere, which was last privately valued at $6.8 billion.
Alongside the deal, the company will also appoint a new chief executive.
