StatPro Group PLC StatPro signs $1.0m Singapore Revolution contract

TIDMSOG

StatPro Group PLC

10 August 2017

RNS Reach

10 August 2017

StatPro Group PLC

Singapore client signs Revolution for $1.0m over 2.5 year contract

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 signed a two and a half year contract extension and consulting agreement, to migrate a major Singapore-based asset manager from StatPro Seven to the cloud-based StatPro Revolution platform.

In August 2016, the Singapore Monetary Authority (MAS) issued an update to its outsourcing guidelines, stating the benefits of cloud computing to financial service institutions in Singapore. The guidelines state that:

"MAS...recognises that institutions may leverage on such a service to enhance their operations and service efficiency while reaping the benefits of cloud services' scalable, standardised and secured infrastructure."

Justin Wheatley, Group CEO, commented:

"We are delighted by this client conversion and uplift from StatPro Seven to StatPro Revolution. Singapore is a major hub for asset management in Asia and the endorsement of our Cloud-based solution, StatPro Revolution, by a major Singapore based asset manager is an important step in our growth in Asia.

"Our highly scalable, super-fast and precise cloud-based services are taking the asset management industry into the next generation of technology. With price pressure and regulation forcing our clients to improve efficiency and their quality of service, while cutting costs, we are well placed to support all our clients."

Enquiries:

 
 StatPro Group plc 
 Justin Wheatley, Chief         [phone] 
  Executive                      9876 
 Andrew Fabian, Finance 
  Director 
 
 Panmure Gordon - Nomad 
  and Broker 
 Corporate Finance - Freddy     [phone] 
  Crossley / Fabien Holler       2500 
 Corporate Broking - Tom 
  Salvesen / James Stearns 
 
 Instinctif Partners 
 Adrian Duffield / Chris        [phone] 
  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.

The Group has operations in Europe, North America, South Africa, Asia 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 today. Over 75% 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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August 10, 2017 02:02 ET (06:02 GMT)