StatPro Group PLC ?3m contract with large European asset manager (5360Y)

TIDMSOG

RNS Number : 5360Y

StatPro Group PLC

06 March 2017

6 March 2017

StatPro Group PLC

EUR3m six-year contract signed with large European asset manager

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 six-year contract with a leading European asset manager for a minimum value of approximately EUR3m.

The contract is an extension of an existing agreement to six years and includes an uplift in conversion value as the asset manager is converting from StatPro Seven to the Group's cloud based product StatPro Revolution. It also makes use of the recently launched new module, StatPro Revolution Performance.

The client is expected to go live with over 400 portfolios on the StatPro Revolution platform by the end of March 2017.

Justin Wheatley, Group CEO, commented:

"This contract is an endorsement of our cloud strategy to provide our existing customers with the significantly enhanced capabilities of StatPro Revolution - it enables us to get an uplift in revenue and to lengthen our contract terms."

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 GBP39 million at the end of December 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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