16th Jul 2019 16:29
(Alliance News) - Blue Prism Group PLC on Tuesday said all conditions for the acquisition of Thoughtonomy Ltd have now been satisfied.
Robotics firm Blue Prism has bought Thoughtonomy, a software-as-a-service-based product and cloud services business for GBP63 million, which will be paid in Blue Prism shares, and the rest in cash.
Blue Prism said application has been made for admission to trading on AIM of 1.1 million new shares, comprising certain consideration shares pursuant to the terms of the acquisition.
Following the admission, the company will have 80.3 million shares overall.
Thoughtonomy was founded in 2013, and has 77 direct customers and around 200 indirect clients worldwide, Blue Prism said.
"Today marks an exciting milestone for Blue Prism. The acquisition of Thoughtonomy will further our development of enterprise-based cloud products and open up the mid-tier market opportunity," said Blue Prism Chief Executive Alastair Bathgate.
"We look forward to welcoming the Thoughtonomy team into the business and building on our long-term partnership to create an even more powerful and accessible proposition for customers," added Bathgate.
Blue Prism shares were trading 3.5% lower on Tuesday in London at 1,401.00 pence each.
Related Shares:
PRSM.L