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International law firm CMS is advising Blue Prism Group (Blue Prism), the AIM listed robotic process automation software company, on a recommended cash offer made by US fintech company SS&C Technologies Holdings (SS&C Technologies). The proposed deal values Blue Prism’s entire issued and to be issued ordinary share capital at approximately £1.24bn. SS&C Technologies’ offer is higher than the offer previously made by US private equity firm Vista Equity Partners (Vista). Following SS&C Technologies’ bid, Blue Prism’s directors withdrew their recommendation of Vista’s offer. CMS is also advising Blue Prism on Vista’s offer.
Blue Prism is a global leader in intelligent automation, helping enterprise organisations accelerate operational efficiency and agility. Blue Prism’s customers include automaker Daimler, e-commerce firm eBay and Britain’s National Health Service.
Simon Morgan, CMS Corporate partner, comments: “We are delighted to continue to advise long-standing client Blue Prism on this offer process. Intelligent automation companies are catching the eye of strategic and financial investors, who can see the growing cross-industry application and appeal of their products and services. Blue Prism is no exception, and this competitive offer speaks to the regard in which Blue Prism is held.”
CMS first acted for Blue Prism on its £48.5m AIM IPO in 2016.
The CMS team is being led by Simon Morgan and Charles Howarth, and includes Kate Badr, Hannah Brash, Kieran O’ Brien, Jessica Tang and Josh Colby (Corporate Transactions); Brian Sher and Ruth Derruau (Anti-trust); and Andrew Quayle and Cathy Wears (Share Schemes).
