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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Statpro Group Plc | LSE:SOG | London | Ordinary Share | GB0006300213 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 236.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSOG
RNS Number : 2001F
StatPro Group PLC
16 May 2017
16 May 2017
StatPro Group PLC
StatPro completes First Closing of UBS Delta acquisition
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 completed on 15 May 2017, the First Closing of the acquisition, from UBS, of its risk and performance analytics service, UBS Delta, as announced on 7 April 2017.
An initial payment of EUR8.7 million has been made, out of total cash consideration of approximately EUR13 million, which will be paid over three years.
UBS Delta will enable StatPro to extend its risk and performance analytics service from the middle office to the front office of asset managers.
The acquisition is phased over three to five years as StatPro incorporates UBS Delta's cloud-based functionality into its flagship product, StatPro Revolution.
Throughout the transition, and until StatPro has fully integrated UBS Delta's functionality, UBS will continue to operate and support UBS Delta for its clients.
UBS Delta has ARR of approximately GBP14.5 million and adjusted EBITDA is expected to be GBP2.0 million to GBP2.5 million in the first 12 months.
Justin Wheatley, StatPro CEO, commented:
"At this early stage we are delighted by the collaboration and enthusiasm of the Delta team. They are now working very closely with us, under our umbrella, to ensure the continuity and stability of their exceptional service to our combined clients.
"This earnings enhancing acquisition transforms our scale and capabilities and we look forward to developing the enlarged business faster and, through our operational gearing, improve our profitability."
Enquiries:
StatPro Group plc Justin Wheatley, Chief +44 (0) 20 8410 Executive 9876 Andrew Fabian, Finance Director Panmure Gordon - Nomad and Broker Corporate Finance - Freddy +44 (0) 20 7886 Crossley / Fabien Holler 2500 Corporate Broking - Tom Salvesen Instinctif Partners Adrian Duffield / Kay Larsen +44 (0) 20 7457 / Chris Birt 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.
StatPro has grown its Annualized Recurring Revenue from less than GBP1 million in 1999 to around GBP53 million following the acquisition of UBS Delta. 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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May 16, 2017 02:01 ET (06:01 GMT)
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