SSNC - SS&C Blue Prism agree to $1.6B takeover deal

Blue Prism (OTCPK:BPRMF) has agreed to be acquired by SS&C Technologies (NASDAQ:SSNC) in a deal that values the company at ~£1.2B ($1.6B), according to published reports. Blue Prism says its board will recommend shareholders vote to approve SS&C latest all-cash offer of 1,275 pence/share, which is higher than an earlier bid of 1,200 pence and above private equity firm Vista Equity Partners' final offer of 1,250 pence/share. The merger "will bring us access to significant capital resources and investment in R&D alongside access to SS&C's extensive 18,000 customers," Blue Prism Chairman and CEO Jason Kingdon says. SS&C says it plans to maintain Blue Prism's U.K. headquarters as a robotic process automation center. Seeking Alpha contributor Karreta Advisors said in September that Blue Prism is an "attractive asset for private equity."

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SS&C, Blue Prism agree to $1.6B takeover deal