LONDON, UNITED KINGDOM--(Marketwired - January 09, 2017) - StatPro Group plc, ("StatPro", "the Group") (AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has entered into a five-year contract with a global South African asset manager for a minimum value of approximately £1.5 million (ZAR 26.6 million). The client will continue to use StatPro Seven before migrating to StatPro Revolution.
In 2017 the asset manager will start a proof of concept with StatPro Revolution Performance with a view to deploying the full StatPro Revolution suite in 2018.
Justin Wheatley, Group CEO, commented:
"The process of converting our clients from our older technology for performance and risk, StatPro Seven, to the cutting-edge cloud technology of StatPro Revolution is accelerating.
"This client's commitment to a long-term relationship, with their requirement to use our innovative cloud solution for performance and risk analytics, is a good example of how we are expanding our client contracts as they switch to StatPro Revolution Performance.
"Our current focus to migrate performance and risk clients to StatPro Revolution is expected to be largely completed over the next two years."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)
StatPro is a global provider of award winning portfolio analytics solutions for the investment community. The Group's cloud-based platform provides vital analysis of portfolio performance, attribution, risk and compliance. This multi-asset class analytics platform helps StatPro's clients increase assets under management, improve client service, meet tough regulations and reduce costs.
The Group's integrated and global data coverage includes over 3.2 million securities such as equities, bonds, mutual funds, FX rates, futures, options, OTCs, sector classifications and much else besides. StatPro also covers most families of benchmarks including MSCI, FTSE, Russell, NASDAQ and the open source Freedom Index.
StatPro has grown its Annualized Recurring Revenue from less than £1 million in 1999 to around £36 million at the end of June 2016. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 38 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.