Fieldfisher advises Blue Prism on £80 million Thoughtonomy acquisition
Firm assisted London AIM-listed robotic process automation pioneer on deal to buy cloud-based solutions provider to expand its capabilities and market reach.
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."
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