Home Service company UK software firm Blue Prism accepts Vista’s final $ 1.63 billion takeover...

UK software firm Blue Prism accepts Vista’s final $ 1.63 billion takeover offer

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Nov. 25 (Reuters) – UK robotics software firm Blue Prism (PRSMB.L) has accepted a final takeover bid of 1.22 billion pounds ($ 1.63 billion) from the US capital firm -Vista Equity investment, the parties said Thursday, going beyond a proposal from SS&C Technologies (SSNC.O).

The increased cash offer of 1,250 pence per share from Bali Bidco Ltd, a company indirectly owned by Vista, comes amid objections from activist investor Coast Capital, who backed the US-based SS&C proposal.

Bali Bidco said it would fund the deal from existing cash resources.

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Blue Prism directors have unanimously recommended that shareholders vote in favor of the Vista deal at meetings scheduled for December 9.

Last week, SS&C made a £ 1.16 billion takeover offer from the UK software company.

Blue Prism, which counts automaker Daimler (DAIGn.DE), eBay (EBAY.O) and Britain’s National Health Service among its customers, initially agreed to be acquired by Vista in September for £ 1.09 billion. Read more

U.S.-based Coast Capital, which owns an estimated 2.8% stake in Blue Prism, opposed Vista’s proposal, saying the sale process was flawed. Blue Prism defended the deal, saying it was better than continuing as a stand-alone business. Read more

Blue Prism shares ended up about 0.6% at 1,215 pence on Thursday, before Vista’s revised offer was made after the market closed.

($ 1 = 0.7506 pounds)

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Reporting by Aby Jose Koilparambil in Bengaluru, editing by William Maclean, Kirsten Donovan

Our Standards: Thomson Reuters Trust Principles.


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