SS&C Technologies £1.24 billion offer for Blue Prism
Davis Polk is advising SS&C Technologies in connection with its £1.24 billion (approximately $1.7 billion) recommended cash offer to acquire the entire share capital of Blue Prism. Blue Prism shareholders will receive 1,275 pence in cash for each share. The cash consideration will be financed from third party debt to be provided under facilities arranged by RBC Capital Markets. The offer, that will be implemented by way of a UK scheme of arrangement, is subject to regulatory approvals and other customary conditions. It is expected that the scheme will become effective in 2022.
SS&C is the world’s largest hedge fund and private equity administrator, as well as the largest mutual fund transfer agent. SS&C’s unique business model combines end-to-end expertise across financial services operations with software and solutions to service even the most demanding customers in the financial services and healthcare industries. Blue Prism is a leading player in intelligent automation for the enterprise, transforming the way work is done. Blue Prism’s intelligent automation platform connects both the human and digital workforce with systems, cognitive tools, applications and technologies, including AI, machine learning, OCR and the Blue Prism Digital Exchange, an ecosystem of ready-made automations available to business users at the click of a button. Blue Prism’s shares are admitted to trading on the London Stock Exchange’s AIM market.
The Davis Polk corporate team includes partners Will Pearce and Leonard Kreynin and associates James Ufland and Charlie Burrell. The finance team includes partners Nick Benham and Scott M. Herrig and counsel Aaron Ferner and Sanders Witkow. Partner Jonathan Cooklin is providing tax advice. Counsel Matthew Yeowart is providing antitrust and competition advice. Members of the Davis Polk team are based in the London and New York offices.