SS&C Acquires Blue Prism For $1.6 Billion USD
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced that it has completed its acquisition of Blue Prism Group Plc for approximately $1.6 billion USD. Blue Prism is a UK based robotics process automation (RPA) company headquartered in the U.K. SS&C says it is funding the acquisition using proceeds from previously announced committed financing from certain financial institutions.
SS&C’s says the acquisition will enhance its position as a leading provider of software and services to the financial services and healthcare industries with deep expertise in intelligent automation and robotic process automation. The new brand, SS&C Blue Prism, will run as a business unit reporting to Mike Megaw, Managing Director, Business Process Automation.
“We are pleased to welcome Blue Prism employees, customers and partners,” said Bill Stone, SS&C Chairman and CEO. “Blue Prism’s RPA business and SS&C’s intelligent automation platform SS&C Chorus are highly complementary. We intend to combine these businesses to deliver a full suite of intelligent automation technologies. In addition, SS&C will cross-sell Blue Prism products to SS&C’s global client base of over 20,000 customers and leverage Blue Prism to optimize internal business processes.”
As a result of the completion of the acquisition, Blue Prism’s admission to trading on the AIM market of the London Stock Exchange has been cancelled.
RBC Europe Limited and Davis Polk & Wardwell London LLP represented the Company on the transaction. Qatalyst Partners Limited, Merrill Lynch International, Investec Bank plc and CMS Cameron McKenna Nabarro Olswang LLP represented Blue Prism.