StatPro Group PLC - £1.0m contract win with large North American asset manager
(Thomson Reuters ONE) -
19 September 2016
StatPro Group PLC
£1.0m contract win with large North American asset manager
StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the cloud-based portfolio
analysis and asset pricing services provider for the global asset management
industry, announces that its subsidiary, Infovest Consulting (Pty) Ltd
("Infovest"), has entered into a new extended contract for a minimum of £1.0
million with a large North American asset manager.
In February 2016, StatPro acquired 51% of Infovest. The strategic objective of
the transaction was to enable Infovest to expand its sales activity across
StatPro's global network of offices and clients and to enable those clients to
gain access to integrated solutions to complement StatPro Revolution, such as
Infovest's Data Warehouse, Reporting and ETL solutions.
A large North American client of StatPro has now entered into a seven year
commitment (with a revenue commitment of £1.0 million) with Infovest to supply
their Data Warehouse and Reporting solutions. These solutions will integrate
output from all their systems including StatPro Revolution.
This deal is the fourth contract win for Infovest since the acquisition (three
of these being from outside Infovest's South African home market) and is the
largest in the company's history. It will significantly increase Infovest's
annualised recurring revenues and committed contractual revenue.
Robin Kemper, Infovest CEO, said:
"This is a great win for Infovest and it underlies the strategic logic behind
our partnership with StatPro. Our client will now be empowered to manage and
utilise fully their valuable data via our world class Data Warehouse, data
integrations tools and reporting framework."
Justin Wheatley, Chief Executive, commented:
"This is a great contract win for Infovest which exemplifies our strategy,
showing that StatPro and Infovest have worked closely together with our North
American client to solve its operational needs with tightly integrated
solutions."
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 / Fred Walsh +44 (0) 20 7886 2500
Corporate Broking - Tom Salvesen
Instinctif Partners
Adrian Duffield / Lauren Foster +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 licence
free Freedom Index.
StatPro has grown its Annualised Recurring Revenue from less than £1 million in
1999 to around £36 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 37 countries around the world. Approximately 80% of recurring
revenues are generated outside the UK. StatPro Group plc shares are listed on
AIM.
About Infovest
Infovest is South Africa's leading Investment Data Management and compliance
monitoring software provider, based in Cape Town. They provide comprehensive
enterprise data management solutions to investment management companies by
combining their flexible data management framework and a tried and tested
methodology, backed by an agile and experienced team of professional
consultants. They help clients to bridge the gap between their business and
their valuable data resources.
Further information is given on their website: http://www.infovest.co.za/
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: StatPro Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 19.09.2016 - 08:05 Uhr
Sprache: Deutsch
News-ID 495433
Anzahl Zeichen: 5324
contact information:
Town:
Boston
Kategorie:
Business News
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