Blue Prism gets takeover offer from SS&C Technologies

AIM-listed software group Blue Prism said on Tuesday that it has received a takeover offer from US technology firm SS&C Technologies, paving the way for a potential bidding war.

Blue Prism had already agreed to be bought by US private equity firm Vista Equity Partners in a £1.1bn deal.

However, it said on Tuesday that SS&C has put forward an offer of 1,200p a share, which is above the 1,125p offer made by Vista.

"The board is currently evaluating the SS&C Proposal with its financial adviser, Qatalyst Partners Limited," it said, adding that there can be no certainty that any firm offer will be made.

"Whilst the directors of Blue Prism continue to believe that the Vista offer is in the best interests of Blue Prism shareholders and are not withdrawing their recommendation of it at this stage, in light of the SS&C proposal, the board consider it to be in Blue Prism shareholders' interests to adjourn the Court Meeting and General Meeting in order to explore further the approach from SS&C," it said.

Blue Prism shares closed up 8.9% at 1,220p.