StatPro Group PLC £2.3m contract with large Australian institution (2393A)

TIDMSOG

RNS Number : 2393A

StatPro Group PLC

06 June 2016

6 June 2016

StatPro Group PLC

GBP2.3 million contract win with large Australian financial institution

StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry has entered into a three-year contract with a large Australian financial institution for a total value over the period of A$4.5 million (US$3.3 million / GBP2.3 million). This deal significantly increases StatPro's presence in the important Australian market.

StatPro will supply its Revolution platform including the new Revolution Performance module.

The Australian company will use StatPro's latest cloud technology to replace its legacy system which will enhance the service offering to its many clients and grow its position in the Australian and Pacific market.

StatPro Revolution Performance is the core transaction-based performance measurement module that will enable StatPro to complete the process of migrating its clients from StatPro Seven to the cloud-based Revolution platform.

The scalability, speed and efficiency of cloud technology means Revolution Performance will enable large asset managers and fund administrators to reap significant economies of scale and efficiency gains compared to legacy software solutions.

Justin Wheatley, Chief Executive of StatPro, commented:

"This significant contract win in Australia is a strong vote of confidence in our soon to be launched Revolution Performance. This follows an intensive review of the platform capabilities by our client.

"Revolution remains the only cloud-based platform providing complete portfolio analytics and data management available in the market today.

"We look forward to officially launching Revolution Performance in Q3 2016."

Enquiries:

 
  StatPro Group plc 
  Justin Wheatley, Chief         +44 (0) 20 8410 
   Executive                                9876 
  Andrew Fabian, Finance 
   Director 
 
  Panmure Gordon - Nomad 
   and Broker 
  Corporate Finance - Freddy 
   Crossley / Fred Walsh /       +44 (0) 20 7886 
   Fabien Holler                            2500 
  Corporate Broking - Tom 
   Salvesen 
 
 
  Instinctif Partners 
  Adrian Duffield / Lauren     +44 (0) 20 7457 
   Foster / Chris Birt                    2020

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 licence free Freedom Index.

StatPro has grown its Annualised Recurring Revenue from less than GBP1 million in 1999 to around GBP32 million at end December 2015 (including Investor Analytics and InfoVest acquisitions in 2016 on a pro forma basis). 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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