LONDON (Alliance News) - StatPro Group PLC said Monday it has signed a five-year contract with an unnamed South African asset manager for the provision of its cloud-based analytics and asset pricing services.
StatPro said the contract has a minimum value of approximately GBP1.5 million. The client, with which StatPro has an existing relationship, will continue to use its StatPro Seven product before migrating to its cloud-based StatPro Revolution product.
"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," said Justin Wheatley, chief executive officer of StatPro.
"Our current focus to migrate performance and risk clients to StatPro Revolution is expected to be largely completed over the next two years," added Wheatley.
Shares in StatPro were untraded Monday morning, having last been quoted at 101.65 pence.
By Adam Clark; adamclark@alliancenews.com
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