London cloud services firm Thoughtonomy sold for £80m to Blue Prism
London-based cloud services company Thoughtonomy has been bought by Blue Prism Group, a global leader in Robotic Process Automation, in a deal worth £80m.
The acquisition of the company, which has a research and development office in Manchester, will help Warrington-based 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.
Blue Prism announced the deal alongside its 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."
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