StatPro Group PLC £1.5m contract signed with global asset manager (5889T)

TIDMSOG

RNS Number : 5889T

StatPro Group PLC

09 January 2017

9 January 2017

StatPro Group PLC

GBP1.5m five year contract signed with global asset manager for cloud migration

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 five-year contract with a global South African asset manager for a minimum value of approximately GBP1.5 million (ZAR 26.6 million). The client will continue to use StatPro Seven before migrating to StatPro Revolution.

In 2017 the asset manager will start a proof of concept with StatPro Revolution Performance with a view to deploying the full StatPro Revolution suite in 2018.

Justin Wheatley, Group CEO, commented:

"The process of converting our clients from our older technology for performance and risk, StatPro Seven, to the cutting-edge cloud technology of StatPro Revolution is accelerating.

"This client's commitment to a long-term relationship, with their requirement to use our innovative cloud solution for performance and risk analytics, is a good example of how we are expanding our client contracts as they switch to StatPro Revolution Performance.

"Our current focus to migrate performance and risk clients to StatPro Revolution is expected to be largely completed over the next two years."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)

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     +44 (0) 20 7886 
   Crossley / Fabien Holler                 2500 
  Corporate Broking - Tom 
   Salvesen 
 
  Instinctif Partners 
  Adrian Duffield / Lauren       +44 (0) 20 7457 
   Foster                                   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 open source Freedom Index.

StatPro has grown its Annualized 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 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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