22 Mar 2010 07:00
For Release at 07.00 Monday, 22 March 2010
STATPRO GROUP PLC
("StatPro", "the Company" or the "Group")
Contract win in Asia
StatPro Group plc, the AIM listed provider of portfolio analytics and data solutions for the global asset management industry, today announces a significant contract win with a prominent Asian bank for StatPro Seven, the Company's newly launched SaaS platform. The contract is worth over US$1.0 million over three years. The new client has selected StatPro Seven because it provides Performance Measurement, Equity Attribution, Fixed Income Attribution, Risk and Reporting combined with multiple Index Feeds and Market Data on a Software as a Service ("SaaS") platform.
Asia Strategy
With the launch of StatPro Seven on a SaaS platform, StatPro's market reach has been significantly extended, enabling the Company to service clients in geographical locations where it does not currently have offices. StatPro is therefore now in a position to increase the promotion of its products into Asia, a market which the Board believes represents a significant growth opportunity. The geographical dispersion of financial centres in Asia supports the implementation of a centralised SaaS solution by asset management firms with multiple offices. Our new Asian client chose StatPro specifically because we were able to offer a combined analytics platform with the required data feeds on a SaaS basis thus minimising their IT costs and ensuring first class support.
The beta launch later this month of StatPro Revolution, StatPro's first web-based platform will extend the Company's reach yet further into the region. The web-based platform will give the thousands of smaller asset management firms access to first class analytics, risk and attribution solutions previously only affordable for the top tier firms.
Commenting on the Contract Justin Wheatley, Chief Executive said, "We are delighted to have made this important first step not only in extending our client base in Asia but also in selling the enormous benefits of StatPro Seven to a prominent Asian bank. Asia is a rapidly growing market for asset management and we believe that through the launch of StatPro Seven and StatPro Revolution we will have significant further opportunities in this region."
For further information, please contact:
| StatPro Group plc | www.statpro.com |
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| Justin Wheatley, Chief Executive |
| 020 8410 9876 |
| Andrew Fabian, Finance Director |
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| Cenkos Securities |
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| Jon Fitzpatrick / Ken Fleming |
| 0131 220 6939 |
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| ICIS |
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| Tom Moriarty / Caroline Evans-Jones |
| 020 7651 8688 |
About StatPro
StatPro is a leading provider of portfolio analytics and data solutions for the global asset management industry. The Company sells a SaaS-based Analytics and Data platform (StatPro Seven) on a rental basis to investment management companies allowing them to analyse portfolio performance, attribution, risk and GIPS® compliance. StatPro also provides market data and valuation feeds including a Complex Asset Pricing service.
StatPro has grown its recurring revenue from less than GBP 1 million in 1999 to GBP 28.4 million at end December 2009. StatPro floated on the London Stock Exchange in May 2000 and transferred its listing in June 2003 to AIM. The Company has operations in Europe, North America, South Africa and Australia, with approximately 75% of recurring revenues being generated outside the UK.