StatPro Group PLC Acquisition of remaining Infovest shareholding (7186F)

TIDMSOG

RNS Number : 7186F

StatPro Group PLC

23 February 2018

StatPro Group plc

Acquisition of remaining shareholding in Infovest Consulting for GBP1.9m

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 acquired the remaining shareholding in Infovest Consulting (Pty) Ltd ("Infovest"), a South African headquartered software provider, specialising in data warehouse, ETL and reporting software for the asset management industry. StatPro previously had a 72.7% holding.

The consideration for the remaining 27.3% shareholding was ZAR 30.4 million (GBP1.9 million) in cash.

The increase in shareholding is expected to be earnings enhancing in the current year and the Group will further benefit from Infovest's growing revenues and profits. The valuation of this buy-out is based on a formula linked to recurring revenue but with a minimum profit level. The multiple is just over six times EBITDA.

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 / James Stearns 
 
 Instinctif Partners 
 Adrian Duffield / Chris        +44 (0) 20 7457 
  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.

The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world.

StatPro has grown its Annualised Recurring Revenue from less than GBP1 million in 1999 to around GBP53 million at the end of December 2017. Over 75% 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

END

ACQSEAESEFASEIE

(END) Dow Jones Newswires

February 23, 2018 02:00 ET (07:00 GMT)

Statpro (LSE:SOG)
Historical Stock Chart
From May 2024 to Jun 2024