- 19 June 2019
Silverpeak advises Thoughtonomy on agreed acquisition by Blue Prism (AIM:PRSM)
Leading the market in delivering intelligent automation capabilities from the cloud, Blue Prism, today announced its agreement to acquire Thoughtonomy for up to £80m. The acquisition will see Blue Prism’s connected-RPA platform distributed and supported as a turnkey SaaS offering, helping accelerate the deployment of digital workers across market verticals and into mid-tier enterprises worldwide. Silverpeak acted as exclusive Lead Adviser to Thoughtonomy.
Thoughtonomy’s secure, award-winning enterprise grade SaaS solution, leveraging Microsoft Azure, enables an on-demand Virtual Workforce and full Intelligent Automation platform. This acquisition joins the power of Blue Prism’s connected-RPA platform with Thoughtonomy’s software, allowing customers to quickly and more easily drive improved productivity and customer experiences, without needing to set up a dedicated infrastructure to support their program.
It gives enterprises a way to access and leverage embedded and fully integrated AI technologies such as computer vision, Natural Language Processing (NLP) and machine learning to address a complete range of use cases from back office to front office. Additional features, including ready-to-use channel interfaces such as chatbots and web-forms coupled with Thoughtonomy’s integrated AI-enabled digital workforce manager, IADA®, helps companies scale their automation strategy at speed.
“The acquisition of Thoughtonomy will support a broader strategy to strengthen our portfolio with cloud offerings that deliver value and enhance customer experience,” says Alastair Bathgate, Co-founder and CEO, Blue Prism. “Thoughtonomy brings valuable knowledge and experience in the development and implementation of cloud-based intelligent digital workers, with a successful track record of delivering its solutions to mid-tier enterprises in a number of industry verticals complementary to the areas of the market Blue Prism has served.”
Thoughtonomy’s intellectual property and embedded Marketplace will also extend Blue Prism’s Digital Exchange DX capabilities – an intelligent automation marketplace comprising customers, technology and channel partners – while enhancing the company’s overall push to deliver RPA services with leading cloud services providers such as AWS, Microsoft Azure, Google and IBM.
“We’ve been working with Blue Prism since our foundation in 2013, and we’ve built out our unique SaaS and intelligent automation capabilities to leverage their best in class RPA software,” says Terry Walby, CEO & Founder of Thoughtonomy. “Together as leaders, we plan to broaden and simplify access to the most advanced digital workforce capabilities on the planet.”
This combination of capabilities will provide enterprises with even greater flexibility for their automation projects offering them the ability to choose between SaaS or dedicated infrastructure. Together both companies will continue to build out the strongest partner network in the industry aimed at driving up customer adoption in key market verticals including financial services, telecoms, insurance, retail, healthcare and pharmaceuticals, professional services, energy, utilities, public sector and outsourcing providers. This also includes commitments to support partner enablement, sales, pre-sales and implementation on a global scale.
Thoughtonomy has delivered year on year growth of over more than 250 per cent over the past three years and has customers spread across four continents. In 2018, the company was ranked fourth in the Sunday Times Tech Track 100 and 11th in the Deloitte 2018 UK Technology Fast 50, cementing its position as one of the fastest growing UK-headquartered technology companies and one of the brightest stars in global AI.
Silverpeak worked with Thoughtonomy as lead adviser examining both private equity investment and strategic acquirers globally culminating in the agreed acquisition of Thoughtonomy by Blue Prism.
Paddy MccGwire, the Managing Partner at Silverpeak leading the process added, “Terry and the team at Thoughtonomy have developed a great business in the six years since founding, developing the market leading intelligent automation SaaS RPA platform. Blue Prism will provide a great strategic and cultural fit to continue to exploit the market opportunity.”
For more information please contact Paddy MccGwire: email@example.com
Other advisers to Thoughtonomy were: Taylor Wessing, lawyers; Smith & Williamson, tax.