Global law firm Ashurst is advising Goldman Sachs on the £1.095 billion acquisition of Blue Prism Group plc (“Blue Prism”) by Bali Bidco Limited (“Bidco”), a newly formed investment vehicle indirectly owned by funds managed by Vista Equity Partners (“Vista”), announced today.
Blue Prism is a leader in robotic process automation and has users globally in more than 2,000 businesses, including Fortune 500 companies. Blue Prism’s intelligent automation platform provides systems, cognitive tools, applications and technologies, including AI, machine learning, OCR and the Blue Prism Digital Exchange, a set of automation components available to business users.
Vista is a leading global investment firm with more than $81 billion in assets under management as of 30 June 2021. Vista invests exclusively in enterprise software, data and technology-enabled organisations. Following completion of the acquisition, Vista intends to indirectly transfer Bidco to TIBCO Software Inc., a portfolio company of Vista, which is expected to yield significant synergies and market differentiation, combining the go to market strategy and the product and R&D investment of the two businesses. TIBCO will also provide Blue Prism with the expertise to deliver its products via a unique, cloud-native approach that includes integration with TIBCO’s award-winning SaaS platform.
Goldman Sachs is acting as financial adviser to TIBCO in relation to the acquisition.
The Ashurst team was led by finance partner Tim Rennie and corporate partner Tom Mercer, senior associate Jenny Choi and associate Colin Bugler.