Software developer

The AI ​​software developer’s £1.2bn takeover is set to close next month

A £1.2billion takeover of a robotic process automation software developer, which works with companies including Jaguar Land Rover, eBay and the NHS, is set to be completed next month.

Shares in Blue Prism, headquartered in Warrington, are set to suspend on AIM on March 16, according to a new timetable released on Monday.

The move would end a long-running buyout process for the company that has seen three US private equity firms battle for control.

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Vista Equity Partners originally struck a deal with Blue Prism towards the end of September after seeing competition from TPG Capital which has previously invested in Airbnb, Burger King and Spotify.

Vistia is headquartered in the United States and currently holds stakes in UK companies such as Advanced, Allocate and Finastra.

However, US investment giant SS&C Technologies submitted a competing offer which valued Blue Prism at £1.2 billion.

This offer was then unanimously recommended to Blue Prism shareholders by the Board of Directors.

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.