StatPro Group PLC £1.5m Revolution conversion (9135D)
01 July 2019 - 4:00PM
UK Regulatory
TIDMSOG
RNS Number : 9135D
StatPro Group PLC
01 July 2019
1 July 2019
StatPro Group PLC
GBP1.5m Revolution conversion with 77% lift in annual
subscription
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
secured a conversion from its legacy StatPro Seven software to its
cloud-based StatPro Revolution service with a large insurance
company. This has resulted in a three-year contract with a minimum
value of GBP1.5 million. This represents a 77% increase in annual
subscription.
StatPro Revolution was selected following a competitive tender
and StatPro's release of its new fixed income attribution and risk
module. The scale and flexibility of Revolution's fixed income
attribution model was key in the decision process, with the
contract also including performance and equity attribution and
composites.
Following this conversion, the Group has approximately GBP5
million of legacy StatPro Seven annual software subscriptions to
convert.
StatPro is on course to complete the full conversion of most of
the remaining clients using StatPro Seven legacy software over the
next two years. As the process of conversion comes to a close, the
Group will continue to realise significant operational savings in
IT costs as well as simplify operational complexity.
Justin Wheatley, Group CEO, commented:
"This contract win is particularly notable.
"The capabilities of our new fixed income attribution and risk
module on Revolution were critical when the client reviewed its
options. This is another important step in the process to convert
our clients from Seven to Revolution which in turn brings improved
revenues and also operational simplification and IT savings."
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/Kay Larsen/Chantal
Woolcock +44 (0) 20 7457 2020
About StatPro
StatPro Group (www.statpro.com) provides cloud-based portfolio
analytics, asset data services and data management tools for the
global asset management industry and asset management service
providers.
The Group has 10 offices in Europe, North America, South Africa
and Australia, servicing around 450 clients in 40 countries. It is
organised into three divisions: Revolution, Source: StatPro and
Infovest.
Revolution is a global provider of award-winning portfolio
analytics solutions. The cloud-based platform offers vital analysis
of portfolio performance, attribution, risk and compliance.
Revolution helps clients reduce costs, improve client communication
and control investment decisions.
Source: StatPro is a global market data business and provides
Data-as-a-Service to Revolution to enable analytics. The division's
integrated and global data coverage includes millions of securities
covering the full range of financial instruments and
benchmarks.
Infovest, supplies data management solutions for the global
asset management market, including data warehouse technology, ETL,
compliance and reporting tools as well as portfolio management
solutions.
StatPro Group plc shares are listed on AIM.
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END
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