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Birmingham Post
Birmingham Post
Business
Jon Robinson

Long-running £1.2bn takeover of AI software developer set to complete next month

A £1.2bn takeover of a robotic process automation software developer, which works with the likes of Jaguar Land Rover, eBay and the NHS, is on track to be completed next month.

Shares in Warrington-headquartered Blue Prism are set to be suspended on AIM on March 16, according to a new timetable published on Monday.

The move would bring to an end a long-running takeover process of the company which saw three US private equity firms battle for control.

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Vista Equity Partners has originally reached an agreement with Blue Prism towards the end of September having seen off competition from TPG Capital which has has previously invested in the likes of Airbnb, Burger King and Spotify.

Vistia headquartered in the US and currently has stakes in UK companies such as Advanced, Allocate and Finastra.

However, American investment giant SS&C Technologies submitted a rival bid which valued Blue Prism at £1.2bn.

That offer was then unanimously recommended to Blue Prism's shareholders by the board.

According to its website, SS&C Technologies is the world’s largest hedge fund and private equity administrator, as well as the largest mutual fund transfer agency.

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