StatPro Group PLC StatPro acquires regulatory risk services bureau (1561T)

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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