StatPro Group PLC StatPro Group PLC-1.5m pound contract signed
09 January 2017 - 6:05PM
RNS Non-Regulatory
TIDMSOG
StatPro Group PLC
09 January 2017
StatPro Group PLC - 1.5m pound five year contract signed with
global asset manager for cloud migration
LONDON, UNITED KINGDOM--(Marketwired - January 09, 2017) -
StatPro Group plc, ("StatPro", "the Group") (AIM: SOG), the AIM
listed provider of cloud-based portfolio analytics and asset
pricing services for the global asset management industry, has
entered into a five-year contract with a global South African asset
manager for a minimum value of approximately GBP1.5 million (ZAR
26.6 million). The client will continue to use StatPro Seven before
migrating to StatPro Revolution.
In 2017 the asset manager will start a proof of concept with
StatPro Revolution Performance with a view to deploying the full
StatPro Revolutionsuite in 2018.
Justin Wheatley, Group CEO, commented:
"The process of converting our clients from our older technology
for performance and risk, StatPro Seven, to the cutting-edge cloud
technology of StatPro Revolution is accelerating.
"This client's commitment to a long-term relationship, with
their requirement to use our innovative cloud solution for
performance and risk analytics, is a good example of how we are
expanding our client contracts as they switch to StatPro Revolution
Performance.
"Our current focus to migrate performance and risk clients to
StatPro Revolution is expected to be largely completed over the
next two years."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 (MAR)
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 GBP36 million at the end of
June 2016. 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.
Enquiries:
StatPro Group plc
Justin Wheatley
Chief Executive
Andrew Fabian
Finance Director
+44 (0) 20 8410 9876
Panmure Gordon - Nomad and Broker
Corporate Finance
Freddy Crossley / Fabien Holler
Corporate Broking
Tom Salvesen
+44 (0) 20 7886 2500
Instinctif Partners
Adrian Duffield / Lauren Foster
+44 (0) 20 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 09, 2017 02:05 ET (07:05 GMT)
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