SOURCE: StatPro Group PLC

StatPro Group PLC

January 09, 2017 02:05 ET

StatPro Group PLC - 1.5m pound five year contract signed with global asset manager for cloud migration

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)

About StatPro
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.

Contact Information

  • Enquiries:

    StatPro Group plc
    Justin Wheatley
    Chief Executive
    Andrew Fabian
    Finance Director
    +44 (0) 20 8410 9876

    Panmure Gordon - Nomad and Broker
    Corporate Finance
    Freddy Crossley / Fabien Holler
    Corporate Broking
    Tom Salvesen
    +44 (0) 20 7886 2500

    Instinctif Partners
    Adrian Duffield / Lauren Foster
    +44 (0) 20 7457 2020