Vista Equity Partners and London-listed Blue Prism near £1bn buyout
Private equity firm Vista Equity Partners is reportedly nearing an agreement with British automation software developer Blue Prism for a £1bn buyout.
While it looks like smooth sailing for Vista, an investment firm with more than $81bn in assets under management, other suitors could emerge.
Blue Prism’s shares slipped 2.27 per cent to 1,162p per share in its afternoon trading.
The deal would see newly formed investment vehicle Bidco, owned by funds managed by Vista, acquire the software developer.
Once the deal is complete, Vista intends to indirectly transfer Bidco to TIBCO Software, one of Vista’s portfolio companies.
Goldman Sachs, which is being advised by law firm Ashurst, has been acting as financial advisor to TIBCO.
Prism, valued at around £1.15bn, has had its worth tumble some 30 per cent this year as it has been grappling with concerns about gaps in its product portfolio and its distance from key US clients and investors.