The UK-based software company Blue Prism has acquired Thoughtonomy, an intelligent automation-based company for up to $100 million. The deal has been designed in the combination of cash and stocks – €12.5 million and €23 million in stocks payable on deal completion. A sum of €20 million will be paid after a year of closure of the deal and €4.5 million payable in cash after 18 months. The remaining amount of €20 million will be paid on the second anniversary of the deal closing, in shares.
The confirmation of acquisition comes 6 months after Blue Prism declared it would be raising around $130 million in order to maintain constant growth while RPA is luring a heap of market attention.
Thoughtonomy, whose regular approaches are based on intelligent automation, has a lot to offer to Blue Prism. Following the tech-gifts from the former, Blue Prism further announced the new AI initiative on which it would be working with new partners.
The major idea behind the acquisition is that the startup will be aiding Blue Prism to get its RPA services to become more efficient and reach new levels of success. The company will add architectural support, intelligence, better understanding, and interpretation in order to expand use cases for Blue Prism’s RPA above structure processes.
The acquisition of will support a broader strategy to fortify Blue Prism’s portfolio with cloud offerings for delivering value and enhancing the customer experience.
Alastair Bathgate, Co-founder, and CEO, Blue Prism said, “Thoughtonomy brings valuable knowledge and experience in the development and implementation of cloud-based intelligent digital workers, with a successful track record delivering its solutions to mid-tier enterprises in a number of industry verticals complementary to the areas of the market Blue Prism has served.”
Terry Walby, CEO, and Founder of Thoughtonomy commenting on the acquisition stated, “We’ve been working with Blue Prism since our foundation in 2013, and we’ve built out our unique SaaS and intelligent automation capabilities to leverage their best in class RPA software. Together as leaders, we plan to broaden and simplify access to the most advanced digital workforce capabilities on the planet.”
Other than RPA, the deal brings together other capabilities of both the firms including a variety of embedded intelligence, coding quality, and efficient tools. Thoughtonomy is also expected to boost the client count of Blue Prism to accelerate its performance in different industry verticals. Additionally, the startup with its cloud orchestration tools, resources, and skills, will feed into the better productivity in Blue Prism’s product initiatives.