SS&C Makes Preliminary Approach to Acquire Blue Prism Group plc

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Nov 17, 2021, 09:33 ET

WINDSOR, Conn., Nov. 17, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today confirms that it has made a preliminary approach to Blue Prism Group plc ("Blue Prism") regarding a possible cash offer to acquire the entire issued and to-be-issued share capital of Blue Prism for 1,200 pence per Blue Prism share. London-based Blue Prism is a global leader in enterprise intelligent automation.

SS&C's preliminary approach, which is subject to the satisfaction or waiver of a number of pre-conditions including the completion of detailed due diligence, implies an equity value of approximately $1.6bn for Blue Prism.

"Automation has been at the forefront of SS&C's technology initiatives for several years now," said Bill Stone, Chairman and CEO of SS&C Technologies. "Blue Prism's innovative solutions are recognized as a leader by RPA analysts, and we believe they would complement our existing products, particularly Chorus, our intelligent automation solution."

A further announcement will be made if and when appropriate.

Important Notices

This announcement is not for release, publication or distribution, directly or indirectly, in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers (the "Code") and there can be no certainty that an offer will be made by SS&C.

This announcement is not intended to and does not constitute an offer to buy or the solicitation of an offer to subscribe for or sell or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on SS&C's website at http://investor.ssctech.com/Possible-Offer-for-Blue-Prism. The content of this website is not incorporated into, and does not form part of, this announcement.

Important information under the Code

For the purposes of Rule 2.5 of the Code, SS&C reserves the right to (a) reduce the offer consideration on a pound for pound basis by the amount of any dividend or other distribution or return of capital which is paid or becomes payable by Blue Prism after the date of this announcement, (b) vary the form of consideration as set out above and or introduce other forms of consideration, and (c) make an offer at any time for less than 1,200 pence per Blue Prism share (i) with the agreement or recommendation of the board of Blue Prism, (ii) if a third party announces a firm intention to make an offer for Blue Prism pursuant to Rule 2.7 of the Code which at the date of such offer is valued at a price lower than 1,200 pence per Blue Prism share, or (iii) following the announcement by Blue Prism of a whitewash transaction pursuant to the Code.

Bases and sources

The valuation of the entire issued and to be issued ordinary share capital of Blue Prism at approximately £1.2 billion (using the USD-GBP exchange rate of 0.745 provided by Bloomberg as at close of business on 16 November 2021) on a fully diluted basis is calculated by applying the treasury stock method to Blue Prism shares which may be issued on or after the date of this announcement on the exercise of options or vesting of awards under Blue Prism's share plans.

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.

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