SOFTWARE group Blue Prism agreed to a £1.24bn takeover offer from SS&C Technologies yesterday morning, withdrawing its backing for a bid from rival suitor Vista.

US-based fintech SS&C's all-cash offer of 1275p per Blue Prism share is higher than its earlier possible bid of 1200p, and is above private equity firm Vista's offer of 1250p.

Blue Prism chief Jason Kingdon said the combination with SS&C will offer access to "significant capital resources and investment in R&D alongside access to SS&C's extensive 18,000 customers".

SS&C has already stated it intends to keep the London HQ.

Blue Prism directors intend to unanimously recommend that shareholders vote in favour of the offer, however it is understood that Vista can still make a counteroffer.

(c) 2021 City A.M., source Newspaper