StatPro Group PLC Completes First Closing of UBS Delta acquisition (2001F)
May 16 2017 - 2:01AM
UK Regulatory
TIDMSOG
RNS Number : 2001F
StatPro Group PLC
16 May 2017
16 May 2017
StatPro Group PLC
StatPro completes First Closing of UBS Delta acquisition
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 completed on
15 May 2017, the First Closing of the acquisition, from UBS, of its
risk and performance analytics service, UBS Delta, as announced on
7 April 2017.
An initial payment of EUR8.7 million has been made, out of total
cash consideration of approximately EUR13 million, which will be
paid over three years.
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 cloud-based 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.
UBS Delta has ARR of approximately GBP14.5 million and adjusted
EBITDA is expected to be GBP2.0 million to GBP2.5 million in the
first 12 months.
Justin Wheatley, StatPro CEO, commented:
"At this early stage we are delighted by the collaboration and
enthusiasm of the Delta team. They are now working very closely
with us, under our umbrella, to ensure the continuity and stability
of their exceptional service to our combined clients.
"This earnings enhancing acquisition transforms our scale and
capabilities and we look forward to developing the enlarged
business faster and, through our operational gearing, improve our
profitability."
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 Larsen +44 (0) 20 7457
/ Chris Birt 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 information is provided by RNS
The company news service from the London Stock Exchange
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