Confirmation of a potential takeover of Blue Prism by either TPG Capital or Vista Equity Partners sent the Blue Prism share price soaring by over 35 percent on Tuesday as it topped the list of FTSE risers.
In a continuation by US private equity firms swooping on potentially undervalued UK assets, both TGP and Vista have been confirmed to be in talks with Blue Prism to acquire all of the entire share capital of Blue Prism.
Blue Prism is a firm that claims to be an international leader in intelligent automation and improving the way work is completed at an enterprise level.
Blue Prism share price soars as demand for all things digital increases
The surging Blue Prism share price is representative of two main factors; one is the continued targeting of UK companies by US private equity firms and second is the increasingly accelerated and automation of work against a digital backdrop.
With over 2,000 clients and a fall in share price of over 25 percent in the past year (including with today’s rise), it now seems inevitable that Blue Prism would become a prime target for the likes of TPG and Vista.
As per usual, the ‘response to press speculation’ today came from Blue Prism added that there can be no certainty an offer will be made as it noted the statement was produced without consent of the aforementioned parties.
With the potential takeover revelation, the m.cap of Blue Prism soared back to over £1bn as investors sensed a bidding war may unfold due to mention of two prominent private equity firms and the recent trends seen.
The Blue Prism share price (LON: PRSM) is currently trading at £11.30 following the update from Blue Prism.
Time will tell if an offer indeed comes to fruition, or should we say offers…