6 June 2016
StatPro Group PLC
£2.3 million contract win with large Australian financial institution
StatPro Group plc, (“StatPro”, “the Group”, AIM: SOG), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry has entered into a three-year contract with a large Australian financial institution for a total value over the period of A$4.5 million (US$3.3 million / £2.3 million). This deal significantly increases StatPro’s presence in the important Australian market.
StatPro will supply its Revolution platform including the new Revolution Performance module.
The Australian company will use StatPro’s latest cloud technology to replace its legacy system which will enhance the service offering to its many clients and grow its position in the Australian and Pacific market.
StatPro Revolution Performance is the core transaction-based performance measurement module that will enable StatPro to complete the process of migrating its clients from StatPro Seven to the cloud-based Revolution platform.
The scalability, speed and efficiency of cloud technology means Revolution Performance will enable large asset managers and fund administrators to reap significant economies of scale and efficiency gains compared to legacy software solutions.
Justin Wheatley, Chief Executive of StatPro, commented:
“This significant contract win in Australia is a strong vote of confidence in our soon to be launched Revolution Performance. This follows an intensive review of the platform capabilities by our client.”
“Revolution remains the only cloud-based platform providing complete portfolio analytics and data management available in the market today.
“We look forward to officially launching Revolution Performance in Q3 2016.”
|StatPro Group plc|
|Justin Wheatley, Chief Executive||+44 (0) 20 8410 9876|
|Andrew Fabian, Finance Director|
|Panmure Gordon – Nomad and Broker|
|Corporate Finance – Freddy Crossley / Fred Walsh / Fabien Holler||+44 (0) 20 7886 2500|
|Corporate Broking – Tom Salvesen|
|Adrian Duffield / Lauren Foster||+44 (0) 20 7457 2020|
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 licence free Freedom Index.
StatPro has grown its Annualised Recurring Revenue from less than £1 million in 1999 to around £32 million at end December 2015 (including Investor Analytics and InfoVest acquisitions in 2016 on a pro forma basis). 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.