Press release
SS&C Announces A Recommended Cash Offer For Blue Prism Group plc
Intends to integrate the Blue Prism business with SS&C Chorus LONDON and WINDSOR, Conn., Dec. 1, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc.
About this update from Ss&c Technologies Holdings, Inc.
[{"type":"text","content":"Intends to integrate the Blue Prism business with SS&C Chorus\n\n\nLONDON and WINDSOR, Conn., Dec. 1, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announces that Bolt Bidco Limited (\"Bidco\"), a wholly-owned indirect subsidiary of SS&C, has published a Rule 2.7 announcement under the City Code on Takeovers and Mergers (the \"UK Announcement\"), announcing its recommended cash offer for the entire issued and to be issued share capital of Blue Prism Group plc (\"Blue Prism\") for 1,275 pence per Blue Prism share, implying an equity value of approximately $1.7 bn (£1.2 bn) for Blue Prism (the \"Acquisition\"). Blue Prism is a leading robotics process automation (RPA) company headquartered in the UK, whose services are used by more than 2,000 businesses worldwide.\n\n \n \n \n \n \n \n\n \nCommenting on the Acquisition, Bill Stone, Chairman and CEO of SS&C, said:\n\"Central to SS&C's value proposition is driving efficiencies for our customers. Blue Prism is another lever for our customers to gain those efficiencies. In conjunction with Chorus, SS&C's intelligent automation platform, Blue Prism will accelerate value delivery by automating increasingly complex tasks. Blue Prism will also further optimize our operating models behind our core services and corporate functions to deliver more value to our customers and shareholders. SS&C has a long history of acquiring high-quality businesses and improving their revenue growth profile and cost structure. With SS&C's management focus, global salesforce, talented development organization, and significant capital resources, Blue Prism can reach new heights with its intelligent digital workforce. The combination of Blue Prism's market-leading RPA solutions, and SS&C's top position in the financial services and healthcare industries, we believe, will yield significantly improved results.\"\nSS&C believes there is a highly complementary and strong strategic fit between the Blue Prism business and the SS&C Chorus business and plans to combine the two businesses following the completion of the Acquisition. Additionally, SS&C believes SS&C Chorus's advanced low-code design capabilities will assist in driving growth in Blue Prism's business. SS&C expects the highly complementary nature of Blue Prism's and SS&C Chorus's existing customer bases, product offerings and ro...