SS&C gets $1.68 billion term debt commitment for Blue Prism buy

By Sara Rosenberg

New York, Dec. 7 – SS&C Technologies Inc. has received a commitment for up to $1.68 billion of incremental term loans to help fund its acquisition of Blue Prism Group plc, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

RBC Capital Markets provided the commitment.

Under the agreement, Blue Prism shareholders will be entitled to receive £12.75 in cash per share, implying a value of £1.243 billion.

Closing is expected in the first quarter of 2022, subject to Blue Prism shareholder approval, receipt of applicable antitrust and regulatory clearances, and the sanction of the scheme by the court.

SS&C’s offer is higher than the current offer for Blue Prism by certain funds managed or controlled by Vista Equity Partners. As a result, the directors of Blue Prism decided to withdraw their recommendation for the Vista offer.

SS&C is a Windsor, Conn.-based provider of services and software for the financial services and health care industries. Blue Prism is a U.K.-based provider of intelligent automation for the enterprise.

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