StatPro Group PLC StatPro acquires regulatory risk services bureau (1561T)
July 02 2018 - 2:00AM
UK Regulatory
TIDMSOG
RNS Number : 1561T
StatPro Group PLC
02 July 2018
2 July 2018
StatPro Group PLC
StatPro acquires regulatory risk services bureau from ODDO
BHF
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
from ODDO BHF, its regulatory risk services bureau, for an
undisclosed sum in cash.
The acquisition adds a full, managed service for regulatory risk
reporting capability, which will use StatPro's existing Revolution
platform, thus expanding the service delivery options for StatPro
clients. It also adds ten new clients to StatPro's client base in
Germany and Luxembourg. The service will be marketed by StatPro
throughout the EU.
Highlights
-- ODDO BHF risk services has annualised recurring revenues of approximately EUR1.7 million
-- Expected to enhance Group adjusted eps in 2019
-- Enhances StatPro's solutions with managed regulatory risk services offering
StatPro expects annual revenue levels for the acquired service
to remain broadly similar for 2018 and will incorporate ODDO BHF
Risk Service revenues from 1 July 2018.
StatPro will take on the employees of ODDO BHF risk services in
Frankfurt, where they will be integrated with StatPro's existing
operations.
Justin Wheatley, StatPro CEO, commented:
"We are delighted to make this successful acquisition of ODDO
BHF Bank's highly rated Regulatory Risk Service. Over more than ten
years they have established their service as the benchmark for the
highest quality in the German and Luxembourg market.
"The asset management industry continues to outsource data
management and standard reporting to fund administrators in order
to focus on analysis and trade decision making and execution.
"With this acquisition, we gain new clients in Germany, the
expertise of the ODDO BHF risk team and add to our existing managed
services for valuations and performance measurement with risk
reporting.
"Once the software replacement is completed, we will swiftly
expand the service to other geographies. Ultimately, we will be
able to offer all clients a choice of service delivery, with the
client taking either the software as a service or using StatPro's
new managed service."
The above notifications are made in accordance with the
requirements of the EU Market Abuse Regulation.
Enquiries:
StatPro Group plc
Justin Wheatley, Chief Executive +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Panmure Gordon - Nomad and Broker
Corporate Finance - Freddy Crossley
/ Fabien Holler +44 (0) 20 7886 2500
Corporate Broking - James Stearns
Instinctif Partners
Adrian Duffield / 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. The
Group has operations in Europe, North America, South Africa, 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 80% of recurring revenues are generated outside
the UK. StatPro Group plc shares are listed on AIM.
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END
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