![]() ![]() Vista is not looking to be in the Intelligent Automation space in the long run. This is definitely a concrete step by Vista to bolster the Tibco arsenal further with Intelligent Automation, to fetch it a higher price. There were reports back in July 2021 about Vista considering a potential sale of Tibco, which was being touted at upwards of USD 7 Bn but it never materialized. Since then, there have been several bolt-on acquisitions that Vista has undertaken to strengthen Tibco – the most noteworthy ones being Nanoscale in 2017 (API), Scribe Software in 2018 (data automation), SnappyData in 2019 (analytics), and Information Builders in 2020 (analytics). Tibco has been a part of Vista’s portfolio for the last 7 years and was acquired for a massive USD 4.3 Bn back then. The most notable has been Vista’s Marketo acquisition for USD 1.8 Bn back in May 2016, which was later sold off to Adobe within 2 years, for an impressive USD 4.75 Bn. In fact, Vista portfolio companies such as Applied Systems, Aspect, BigMachines, Wrike, and Main Street Hub were all sold off within the 2-3 years of being acquired. A closer look at some of Vista’s exits over the past several years reveals that a majority of them have been in the 2-5 years range since acquisition. The Tibco-BP merger seems more like Vista preparing Tibco for a potential sale in the next 12 months. Even the addition of Olive would have been good and added more healthcare-related capabilities to BP (which is predominantly focused on the BFSI sector, accounting for ~50% of its revenue share). While combining Intelligent Automation from BP with the API and analytics prowess of Tibco is a good move, it would have been far more exciting if there was a plan to merge BP with Quickbase to augment Intelligent Automation with much needed No Code capabilities. Vista plans to merge BP within Tibco, which focuses on API-led integration, data management, and analytics, and currently serves more than 10,000 blue-chip enterprise customers. Even Vista has been an active investor within Automation, with acquisition of assets such as Olive in June 2021 (a HealthTech start-up focused on RPA and AI), Quickbase in April 2019 (No Code platform for app development), and Tibco back in 2014. The table above makes it clear that both larger and mid-sector PE firms have had their eye on the red-hot Automation space, over the past few years. Here’s a list of all the PE-backed acquisitions within the Automation space till date. And Vista Equity Partners just made the biggest acquisition within the Automation space by lapping up Blue Prism (BP), one of the Big 3 RPA firms, for a staggering USD 1.5 Bn! ![]() Interestingly, Automation presents a sizeable market of more than USD 15 Bn globally, which is expected to reach more than USD 110 Bn over the next five years.Įven PE players have been extremely active within the Automation space over the last 5 years, with more than 20 acquisitions to show for it. ![]() And given that there are 1400+ platforms within the Automation space, there has been immense consolidation with acquisitions intensifying further during the pandemic. Additionally, funding in excess of USD 12 Bn has been poured into the Automation space over the past year. UiPath going public was among the major news back in Q1 2021, with a massive valuation of USD 35 Bn. ![]() The Automation space has been abuzz with a lot of action over the past year, with flamboyant acquisitions, sizeable Venture Capital (VC)/Private Equity (PE) investments, and IPOs, among other things. U.S.-based Coast, which owns about 3 million Blue Prism shares, objected to the deal in a letter last week, saying the sale process was flawed and that it believed there were multiple conflicts of interest.īlue Prism, in response, said it reached out to 15 strategic parties and 12 financial sponsors during its sale process and that assertions of conflicts of interest were "entirely flawed".Ĭoast had earlier said it sent out an operational improvement plan to Blue Prism, but the UK-based company said on Tuesday that it lacked details for its board to assess.Vista Equity Partners’ acquisition of Blue Prism Oct 6 (Reuters) - British software company Blue Prism (PRSMB.L) on Wednesday defended Vista Equity's $1.5 billion takeover offer, saying it is better than remaining a standalone firm, days after activist investor Coast Capital opposed the deal.īlue Prism agreed to a 1,125 pence-per-share offer from Vista last week, but minority shareholder Coast said it would vote against the bid that it believed undervalued the London-listed company. ![]()
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