British robotics software company Blue Prism has agreed to a 1.22 billion pound ($1.63 billion) final takeover offer from US private equity firm Vista Equity, the parties said on Thursday, topping a proposal from SS&C.
The increased 1,250 pence-per-share cash offer from Bali Bidco Ltd, a firm indirectly owned by Vista, comes amid objections from activist investor Coast Capital, which has supported U.S.-based SS&C’s proposal.
Bali Bidco said it will fund the deal through existing cash resources. Blue Prism directors have unanimously recommended shareholders to vote in favour of the Vista deal at meetings scheduled for Dec. 9.
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