StatPro Group Statpro Group To Acquire Ubs Delta
April 07 2017 - 3:00AM
UK Regulatory
TIDMSOG
7 April 2017
StatPro Group plc
StatPro to acquire UBS Delta
StatPro Group plc (AIM:SOG, "StatPro", "the Group"), the AIM listed
provider of cloud-based portfolio analysis and asset pricing services
for the global asset management industry, has agreed to buy from UBS,
its risk and performance analytics service, UBS Delta.
UBS Delta will enable StatPro to extend its risk and performance
analytics service from the middle office to the front office of asset
managers.
The acquisition is phased over three to five years as StatPro
incorporates UBS Delta's functionality into its flagship product,
StatPro Revolution.
Throughout the transition, and until StatPro has fully integrated UBS
Delta's functionality, UBS will continue to operate and support UBS
Delta for its clients.
Justin Wheatley, StatPro CEO, commented:
"This acquisition transforms our scale and capabilities and we are
delighted to be working with such a highly esteemed team. It will also
enable us to offer a significantly enhanced product capability for all
our clients.
"The award winning UBS Delta platform will be maintained for the next
five years while we incorporate the unique UBS Delta functionality into
our flagship cloud platform, StatPro Revolution. All the UBS Delta
clients will be supported fully and their current processes preserved
until they are ready to migrate to StatPro Revolution."
Hishaam Caramanli, Global Head Securities eCommerce, UBS Investment Bank
commented:
"We are incredibly proud of UBS Delta, our award winning risk and
performance analytics platform, and the talented team of people that
provide this service to our clients.
"We are delighted to have entered into a transaction with StatPro, a
leader in this market with the technical experience and growth capital
to enhance the platform and create a next generation experience for our
clients."
Clients of UBS Delta
UBS will continue to operate and support the UBS Delta service for its
clients until StatPro has enhanced its award winning performance and
risk platform, StatPro Revolution, so that it reaches functional parity
with the UBS Delta service.
It is estimated that this process will take approximately three years.
Following that, UBS Delta clients will be able to migrate to StatPro and
upgrade to the newly enhanced service.
UBS Delta capabilities
UBS Delta has proven to be best in class for risk for asset managers
with a special focus on fixed income attribution and risk. The quality
and precision of the analysis provided makes UBS Delta stand out. The
strong team of professionals that are behind the service have the
knowledge and experience to make a real difference to StatPro. The way
risk and performance is used in the front office of asset managers is
functionally different to the way the middle office works, which is
StatPro's traditional market. Adding UBS Delta's capabilities broadens
StatPro's potential market.
Enquiries:
StatPro Group plc
Justin Wheatley, Chief Executive +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Instinctif Partners
Adrian Duffield / Kay Larsen / Chris Birt +44 (0) 20 7457 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 GBP53 million following the acquisition of UBS
Delta. 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 announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: StatPro Group via Globenewswire
http://www.statpro.com
(END) Dow Jones Newswires
April 07, 2017 03:00 ET (07:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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