The takeover of a cloud services specialist by a listed multinational software corporation in Warrington – in a deal which could rise to £80m – has taken an important step forward.
An agreement was struck for Blue Prism to buy Thoughtonomy in June, with all conditions to the completion of the acquisition – other than a proposed admission by the former – having now been satisfied.
Thoughtonomy is headquartered in London and has operations in Manchester, New York and Austin, US. Founded in 2013 by chief executive Terry Walby, it currently has 77 direct customers and approximately 200 indirect customers worldwide.
The company employs a workforce of 54. For the 12 months to 30 April 2019, it reported revenues of £9.8m and an adjusted operating loss of £3.6m. Gross assets at 31 May 2018 were £5.6m.
Blue Prism has made the acquisition ahead of anticipating that cloud-based RPA deployments will in time become increasingly required by enterprise users.