Statpro Group PLC Contract win with large European Asset Manager (3342B)
January 06 2015 - 2:00AM
UK Regulatory
TIDMSOG
RNS Number : 3342B
Statpro Group PLC
06 January 2015
For Release at 07.00 Tuesday, 6 January 2015
STATPRO GROUP PLC
("StatPro", "the Company" or "the Group")
Contract win with large European Asset Manager for StatPro
Revolution platform
StatPro Group plc (AIM: SOG), the AIM listed provider of
cloud-based portfolio analysis for the asset management industry,
today announces that it has signed a three year contract commencing
on 31 December 2014 with a large European asset manager to upgrade
its existing StatPro Seven platform to the StatPro Revolution
platform, encompassing both StatPro Revolution and StatPro R+
cloud-based products. The total value of the new contract is almost
EUR4 million (GBP3.1 million) over the three years including
professional services.
The customer has initially subscribed for StatPro Revolution and
will add StatPro R+ on its release. The recurring element of this
new contract represents a 55% conversion premium to the original
contract. Total recurring revenue per annum from this client
globally is now over GBP1.0 million. This contract is a significant
milestone for StatPro Revolution and StatPro R+ as the service will
be used worldwide by potentially hundreds of users for day-to-day
access to portfolio analysis and reporting. The client has replaced
several other solutions by using the StatPro Revolution platform,
making substantial savings and has already acknowledged significant
increased productivity as a result.
Justin Wheatley, StatPro Group CEO commented, "This contract is
significant for StatPro and we have many more clients in a similar
situation where they want to enhance their productivity
dramatically as well as the service they provide to their clients.
This can only be achieved through the new technologies of
cloud-based solutions, which provide simplification and
scalability. StatPro's significant investment in these technologies
gives us a very real competitive advantage in our fast growing
market."
- Ends -
For further information, please contact:
StatPro Group plc www.statpro.com
Justin Wheatley, Chief Executive 020 8410 9876
Andrew Fabian, Finance Director
Cenkos Securities
Stephen Keys / Dr Christopher
Golden 020 7397 8900
Julian Morse (Sales)
Newgate Threadneedle
Hilary Buchanan/ Adam Lloyd/
Jasper Randall 020 7653 9850
About StatPro
StatPro is a global provider of portfolio analytics for the
investment community. Our cloud-based services provide vital
analysis of portfolio performance, attribution, risk and
compliance. Hundreds of investment professionals use our services
directly or through a fund administrator/partner to perform
sophisticated analysis, reporting and distribution every day.
With over 20 years of experience and expertise, we believe
analytics should be sophisticated yet simple and useful as well as
secure. StatPro data coverage includes over 3.2 million securities
such as global equities, global bonds, global mutual funds, most
families of benchmarks, FX rates, sector classifications and much
else besides.
StatPro has grown its recurring revenue from less than GBP1
million in 1999 to around GBP28 million at 30 June 2014. StatPro
floated on the main market of the London Stock Exchange in May 2000
and transferred its listing to AIM in June 2003. The Group has
operations in Europe, North America, South Africa, Asia and
Australia and approximately 500 clients in 36 countries around the
world. Approximately 80% of recurring revenues are generated
outside the UK.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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