European law firm Fieldfisher has advised London AIM-listed technology client Blue Prism Group plc on its agreement to acquire privately-held Thoughtonomy Ltd.
Blue Prism, who pioneered robotic process automation (RPA) software that empowers businesses with scalable agile virtual workforces, has agreed to acquire Thoughtonomy to enable Blue Prism’s connected-RPA platform to be distributed and supported as a turnkey software-as-a-service (SaaS) offering.
This will help Blue Prism accelerate the deployment of digital workers into mid-tier enterprises worldwide.
Thoughtonomy's award-winning cloud-based SaaS solution will also enable Blue Prism to deploy an on demand virtual workforce remotely, without requiring customers to have their own compatible technology infrastructure, with the enhanced benefits of fully integrated artificial intelligence (AI) technologies.
Fieldfisher, a leading adviser to the technology sector and AIM-listed companies, advised Blue Prism on all aspects of the acquisition, including corporate, technology and outsourcing, privacy, tax, intellectual property, employment and regulatory matters.
The Fieldfisher team advising Blue Prism was led by corporate partner, Tim Bird.
Commenting on the deal, Tim Bird said:
"We were delighted to advise on this important deal for Blue Prism, who are one of our most ambitious UK tech clients.
"AI, RPA, SaaS and cloud-based services are the essential tools of the modern smart economy and we applaud those companies seeking to deliver leading solutions in all these areas, in anticipation of the changing needs of businesses.
"We expect to see more consolidation in this part of the market in the near future and Fieldfisher is excellently positioned to advise growing and established technology businesses on their M&A activity.
"We congratulate Blue Prism on this deal and look forward to working closely with them as they continue to innovate on behalf of their customers."
Fieldfisher is a European law firm with market leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on real estate, energy & natural resources, technology, finance & financial services, life sciences and media.
Our network has more than 1,550 people working across 25 offices providing highly commercial advice based on an in-depth understanding of our clients' needs.
We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Dublin, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.
Fieldfisher was named as a top 20 firm by the FT Innovative Lawyers Awards 2018.
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