6 Mar 2017 07:00
6 March 2017
StatPro Group PLC
€3m six-year contract signed with large European asset manager
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 six-year contract with a leading European asset manager for a minimum value of approximately €3m.
The contract is an extension of an existing agreement to six years and includes an uplift in conversion value as the asset manager is converting from StatPro Seven to the Group's cloud based product StatPro Revolution. It also makes use of the recently launched new module, StatPro Revolution Performance.
The client is expected to go live with over 400 portfolios on the StatPro Revolution platform by the end of March 2017.
Justin Wheatley, Group CEO, commented:
"This contract is an endorsement of our cloud strategy to provide our existing customers with the significantly enhanced capabilities of StatPro Revolution - it enables us to get an uplift in revenue and to lengthen our contract terms."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)
Enquiries:
StatPro Group plc |
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Justin Wheatley, Chief Executive |
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Andrew Fabian, Finance Director |
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Panmure Gordon - Nomad and Broker |
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Corporate Finance - Freddy Crossley / Fabien Holler |
| +44 (0) 20 7886 2500 |
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Corporate Broking - Tom Salvesen |
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Instinctif Partners |
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Adrian Duffield / Lauren Foster |
| +44 (0) 20 7457 2020 |
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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 £39 million at the end of December 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.