(Adds details of deal, background)
Nov 25 (Reuters) - British robotics software company Blue
Prism has agreed to a 1.22 billion pound ($1.63
billion) final takeover offer from U.S. private equity firm
Vista Equity, the parties said on Thursday, topping a proposal
from SS&C Technologies.
The increased 1,250 pence-per-share cash offer from Bali
Bidco Ltd, a firm indirectly owned by Vista, comes amid
objections from activist investor Coast Capital, which has
supported U.S.-based SS&C's proposal.
Bali Bidco said it will fund the deal through existing cash
resources.
Blue Prism directors have unanimously recommended
shareholders to vote in favour of the Vista deal at meetings
scheduled for Dec. 9.
SS&C last week made a 1.16 billion pound takeover approach
to the British software firm.
Blue Prism, which counts automaker Daimler, eBay
and Britain's National Health Service among its
customers, initially agreed to be taken over by Vista in
September for 1.09 billion pounds.
U.S.-based Coast Capital, which holds a stake of around 2.8%
in Blue Prism, objected to Vista's proposal, saying the sale
process was flawed. Blue Prism defended the deal, saying it was
better than continuing as a standalone firm.
Shares of Blue Prism ended about 0.6% higher at 1,215 pence
on Thursday, before Vista's revised offer was made after the
market close.
($1 = 0.7506 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru, Editing by
William Maclean, Kirsten Donovan)