For immediate release
19 June 2000
STATPRO GROUP PLC
(“StatPro” or the “Group”)
AGREEMENT SIGNED WITH DELOITTE & TOUCHE
StatPro Group (‘StatPro’) a leading supplier of performance measurement software for use by Asset Managers worldwide, today announces it has signed an agreement with Deloitte & Touche under which Deloitte & Touche will assume the role of implementer of choice for StatPro’s range of Fund Management software.
StatPro has already established itself in the US, but the demand for its products means fulfilment needs to be supplemented. The agreement with Deloitte & Touche not only provides access to a large section of the market, but also enables StatPro to install its products faster. Deloitte & Touche’s global offices will also be involved as demand for StatPro’s products spreads across South Africa, Scandinavia, Australia and the Far East as well as throughout Europe.
StatPro has offices in New York, London, Paris, Frankfurt, Luxembourg and Lausanne. It recently floated on LSE and raised £4.9m to focus on increasing its distribution capacity. This agreement is a major part of the strategy to achieving that growth.
Justin Wheatley, CEO of StatPro, commented:
‘Deloitte & Touche’s approach of providing complete and integrated investment management advisory solutions, including investment performance services, for Fund Managers fits neatly into our own model. We are very excited to be working with them as we already have a number of deals underway as a result. Having Deloitte & Touche focus on the implementation part of the business means we don’t have to devote resource duplicating what they do well already and instead use it to improve our products and develop our sales and support infrastructure.’
Herb Chain, Global Partner-In-Charge of Investment Performance Services at Deloitte & Touche, said:
‘Deloitte & Touche & our global firm, Deloitte Touche Tohmatsu, have many asset management clients globally. StatPro’s product, Compass, provides a great solution for our clients to help them achieve their business goals including client reporting and GIPS compliance.’