Blue Prism acquired by PE firm Vista for £1.1bn

British software company Blue Prism has agreed a deal to be taken over by Vista Equity Partners for £1.1bn.

Blue Prism, which specialises in robotic process automation (RPA), listed in 2015 with revenues of £6m and has grown to an expected £160 million this year. The deal will see Vista pay Blue Prizm shareholders £11.25 each per share. this year. 

The PE firm plans to integrate Blue Prism with its 2014 acquisition Tibco, creating a sizeable global robotic process automation (RPA) company.

"Combining with Vista and TIBCO will ensure we remain at the forefront of the next generation of intelligent automation and we can expand the range of products we offer our customers," said Jason Kingdon (pictured) Chairman and CEO of Blue Prism.

He added: “With TIBCO's global footprint and technologies; and, as a privately owned company, we will also have greater access to capital to pursue new growth opportunities via product investment and other potential M&A."

Saroya, Senior MD at Vista said: "We believe that combining Blue Prism and TIBCO can be an exciting and transformational moment for the growth of enterprise-grade Intelligent Automation and RPA.”

Blue Prism is aiming to separate the roles of CEO and Chairman and states confidence that an international software business leader can be attracted to the role of CEO.

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