StatPro Group PLC CAD6.0m contract with Canadian wealth business (2516B)
April 03 2017 - 2:00AM
UK Regulatory
TIDMSOG
RNS Number : 2516B
StatPro Group PLC
03 April 2017
3 April 2017
StatPro Group PLC
StatPro signs three-year CAD6.0m contract with Canadian wealth
business
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
signed a three-year CAD6.0 million (GBP3.6 million) contract
extension with a large Canadian wealth business for its Software as
a Service ("SaaS") version of StatPro Seven, including an uplift in
contract value over the three-year period of CAD1.2 million (GBP0.7
million).
Whilst the Group has been focusing on converting clients of
StatPro Seven to StatPro Revolution, certain modules of StatPro
Seven are not yet scheduled for conversion and are still being
actively marketed as Software as a Service.
Today, approximately 74% of the Group's software revenue is
SaaS, including StatPro's hosted and cloud-based solutions.
Justin Wheatley, Group CEO, commented:
"This is a strong endorsement of our SaaS version of StatPro
Seven and a testament to this product's resilience. As clients look
to consolidate suppliers, they want to work with companies that can
offer not only a broad range of capabilities, but also the highest
levels of service and efficiency.
"Our strategic objective is to ensure that our clients can get
the most complete solution possible from StatPro across all their
processes. By providing StatPro Seven as SaaS, we fulfil this
aim."
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 / Kay +44 (0) 20 7457
Larsen 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 36
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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