Software group Blue Prism agreed to a 1.24 billion pounds ($1.65 billion) takeover offer from SS&C on Wednesday, withdrawing its backing for a bid from rival suitor Vista, reported Reuters.
US-based fintech company SS&C’s all-cash offer of 1,275 pence per Blue Prism share is higher than its earlier possible bid of 1,200 pence, and is above private equity firm Vista’s final offer of 1,250 pence.
Blue Prism chief Jason Kingdon said the combination with SS&C will offer access to “significant capital resources and investment in R&D alongside access to SS&C’s extensive 18,000 customers”.
Blue Prism directors intend to unanimously recommend that shareholders vote in favour of the SS&C offer.
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