UK software firm Blue Prism soars 10% on the potential bidding war

LONDON — Blue Prism’s share price rose sharply on Tuesday after a British UK software company said it had secured funding from U.S. technology company SS&C Technologies Holdings, which sparked exhaustion.

Blue Prism, based in London, has signed a £ 1.1 billion deal with the United States. Visual stock partners.

But the company revealed on Tuesday that Connecticut-based financial services company SS&C Windsor had donated £ 12 to the company’s supply chain.

It is higher than Vista’s £ 11.25 share price and could offer the company a slightly higher price of $ 1.56 billion below the current share price.

“The board is currently considering SS&C production and financial advisor Qatalyst Partners Limited,” Blue Prism said in a statement on Tuesday. “We cannot guarantee that SS&C will make any strong proposals.”

Blue Prism will suspend the meeting of participants at the request of Vista to review the S&C application, the company said. According to the company, executives continue to believe Vista sales are “very sad” to distributors and encourage progress.

“If necessary there will be a second announcement,” Blue Prism said.

Blue Prism’s share rose 10%, according to Tuesday’s news. The price closed up 9% to $ 12.20, earning a higher price than an offer from SS&C and Vista.

Investors have expressed concern about Vista’s plans to take over Blue Prism, saying it will be lower in the price for shareholders and closer to competitors.

Blue Prism sells automated technology for robotic processes, that is, the use of UK software computer simulations to create traditional tasks.

It competes with UiPath, based in New York and with a market capitalization of more than $ 28 billion, and Automation Anywhere, an independent company worth $ 6.8 billion.

Coast Capital merchants are still opposed to the Blue Prism Vista deal. The company discusses concerns with other investors and says about 30 percent of shareholders are willing to close the deal.

According to the Blue Prism retailer, the probability of receiving a promise of sale increases.

“I think it’s high,” David Brown, founder of Hawk Ridge Investments, said in an interview last week. “I think the likelihood of making a mistake is low.”

Later on Tuesday, Coast Capital released a statement supporting the formation of SS&C.

“We believe the SS&C Blue Prism app, if successful, will help make SS&C a clear leader in the financial capabilities of its technology (and therefore its service manager),” said James Raster, founder of Coast Capital.

“That’s the vision and value of a professional team.”

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