SS&C Completes Acquisition of Blue Prism Group PLC

Rhea-AI Summary

On March 16, 2022, SS&C Technologies announced the completion of its acquisition of Blue Prism Group Plc for approximately $1.6 billion. This acquisition positions SS&C as a leader in robotics process automation (RPA) and enhances its offerings in financial services and healthcare. The new unit, SS&C Blue Prism, will report to Managing Director Mike Megaw. With over 2,000 clients globally, Blue Prism's integration is expected to enrich SS&C's capabilities and expand its market reach.

Positive

• Acquisition strengthens SS&C's position in the RPA market.
• Potential for cross-selling Blue Prism products to over 20,000 SS&C clients.
• Enhances capabilities in intelligent automation alongside SS&C Chorus.

Negative

• None.

WINDSOR, Conn., March 16, 2022 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it has completed its acquisition of Blue Prism Group Plc ("Blue Prism") for approximately $1.6 billion (£1.25 billion) (the "Acquisition"). Blue Prism is a leading robotics process automation (RPA) company headquartered in the U.K., whose services are used by more than 2,000 businesses worldwide. 

The Acquisition will enhance SS&C's position as a leading provider of software and services to the financial services and healthcare industries with deep expertise in intelligent automation and robotic process automation (RPA). The new brand, SS&C Blue Prism, will run as a business unit and report to Mike Megaw, Managing Director, Business Process Automation.

"We are pleased to welcome Blue Prism employees, customers and partners," said Bill Stone, SS&C Chairman and CEO. "Blue Prism's RPA business and SS&C's intelligent automation platform SS&C Chorus are highly complementary. We intend to combine these businesses to deliver a full suite of intelligent automation technologies. In addition, SS&C will cross-sell Blue Prism products to SS&C's global client base of over 20,000 customers and leverage Blue Prism to optimize internal business processes."  

As a result of the completion of the acquisition, Blue Prism's admission to trading on the AIM market of the London Stock Exchange will be cancelled with effect from March 17, 2022.

RBC Europe Limited and Davis Polk & Wardwell London LLP represented the Company on the transaction. Qatalyst Partners Limited, Merrill Lynch International, Investec Bank plc and CMS Cameron McKenna Nabarro Olswang LLP represented Blue Prism.

Forward-Looking Statements

Certain information contained in this press release constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance, underlying assumptions, and other statements that are other than statements of historical facts.  Such statements reflect management's best judgment based on factors currently known but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, the state of the economy and the financial services industry and other industries in which the Company's clients operate, and the other risks discussed in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission and can also be accessed on our website.  Forward-looking statements speak only as of the date on which they are made and, except to the extent required by applicable securities laws, we undertake no obligation to update or revise any forward-looking statements.

About Blue Prism

Blue Prism is a global leader in enterprise robotic process automation (RPA) and intelligent automation, transforming the way work is done. We have over 2,000 customers in over 170 countries and 70 industry verticals, 30% in the Forbes Global 2,000, creating value with new ways of working by unlocking efficiencies and returning millions of hours of work back into their businesses. Our enterprise digital robots offer high-scale automation that is secure, smart, accessible to all, enabling centrally managed human and digital workforces of the future and freeing up humans to re-imagine work. 

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.

Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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SOURCE SS&C

FAQ

What is the significance of SSNC's acquisition of Blue Prism?

The acquisition enhances SSNC's capabilities in robotics process automation and complements its intelligent automation offerings.

How much did SSNC pay for Blue Prism?

SSNC completed the acquisition for approximately $1.6 billion.

What will be the new brand after the acquisition?

The new brand will be known as SS&C Blue Prism.

What industries will benefit from the SSNC and Blue Prism integration?

The financial services and healthcare industries will benefit from the integration.

When will Blue Prism's trading on the AIM market cease?

Blue Prism's trading will be canceled effective March 17, 2022.