StatPro Group PLC £1m contract win with North American asset manager (1127K)

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RNS Number : 1127K

StatPro Group PLC

19 September 2016

StatPro Group PLC

GBP1.0m contract win with large North American asset manager

StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the cloud-based portfolio analysis and asset pricing services provider for the global asset management industry, announces that its subsidiary, Infovest Consulting (Pty) Ltd ("Infovest"), has entered into a new extended contract for a minimum of GBP1.0 million with a large North American asset manager.

In February 2016, StatPro acquired 51% of Infovest. The strategic objective of the transaction was to enable Infovest to expand its sales activity across StatPro's global network of offices and clients and to enable those clients to gain access to integrated solutions to complement StatPro Revolution, such as Infovest's Data Warehouse, Reporting and ETL solutions.

A large North American client of StatPro has now entered into a seven year commitment (with a revenue commitment of GBP1.0 million) with Infovest to supply their Data Warehouse and Reporting solutions. These solutions will integrate output from all their systems including StatPro Revolution.

This deal is the fourth contract win for Infovest since the acquisition (three of these being from outside Infovest's South African home market) and is the largest in the company's history. It will significantly increase Infovest's annualised recurring revenues and committed contractual revenue.

Robin Kemper, Infovest CEO, said:

"This is a great win for Infovest and it underlies the strategic logic behind our partnership with StatPro. Our client will now be empowered to manage and utilise fully their valuable data via our world class Data Warehouse, data integrations tools and reporting framework."

Justin Wheatley, Chief Executive, commented:

"This is a great contract win for Infovest which exemplifies our strategy, showing that StatPro and Infovest have worked closely together with our North American client to solve its operational needs with tightly integrated solutions."

Enquiries:

 
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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 licence free Freedom Index.

StatPro has grown its Annualised Recurring Revenue from less than GBP1 million in 1999 to around GBP36 million at the end of June 2016. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 37 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.

About Infovest

Infovest is South Africa's leading Investment Data Management and compliance monitoring software provider, based in Cape Town. They provide comprehensive enterprise data management solutions to investment management companies by combining their flexible data management framework and a tried and tested methodology, backed by an agile and experienced team of professional consultants. They help clients to bridge the gap between their business and their valuable data resources.

Further information is given on their website: http://www.infovest.co.za/

This information is provided by RNS

The company news service from the London Stock Exchange

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