Warrington's Blue Prism agrees £80m deal to buy London cloud services company
Warrington’s Blue Prism Group, a global leader in Robotic Process Automation, has agreed an £80m deal to buy London-based cloud services company Thoughtonomy.
The acquisition of the company, which has a research and development office in Manchester, will help Blue Prism supply mid-tier companies with its robotic process automation platform. The platform does many of the menial tasks traditionally carried out by humans.
The deal was announced alongside Blue Prism’s financial results for the six months to the end of April, which saw revenue rise 82% to £41.6m. The adjusted core loss rose to £34m, driven by an expansion in its sales and marketing capability.
Thoughtonomy is a software-as-a-service (SaaS) based product and cloud services business that combines Blue Prism's RPA platform with artificial intelligence and cloud capabilities, as well as chatbots.
Blue Prism CEO Alastair Bathgate said the acquisition would give access to more ‘mid-tier’ customers – companies with less than 10,000 employees – which require deployment of its products remotely via software.
“The product is available to customers without the overhead of setting up a dedicated infrastructure and as a result is ideal in serving the mid-tier of the market,” he said.
“We believe that the cloud will grow in importance across our enterprise customer base, and this acquisition will also help further our development of enterprise-based cloud products."