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 acquired from ODDO BHF, its regulatory risk services bureau, for an undisclosed sum in cash.
The acquisition adds a full, managed service for regulatory risk reporting capability, which will use StatPro’s existing Revolution platform, thus expanding the service delivery options for StatPro clients. It also adds ten new clients to StatPro’s client base in Germany and Luxembourg. The service will be marketed by StatPro throughout the EU.
StatPro expects annual revenue levels for the acquired service to remain broadly similar for 2018 and will incorporate ODDO BHF Risk Service revenues from 1 July 2018.
StatPro will take on the employees of ODDO BHF risk services in Frankfurt, where they will be integrated with StatPro’s existing operations.
Justin Wheatley, StatPro CEO, commented:
“We are delighted to make this successful acquisition of ODDO BHF Bank’s highly rated Regulatory Risk Service. Over more than ten years they have established their service as the benchmark for the highest quality in the German and Luxembourg market.
“The asset management industry continues to outsource data management and standard reporting to fund administrators in order to focus on analysis and trade decision making and execution.
“With this acquisition, we gain new clients in Germany, the expertise of the ODDO BHF risk team and add to our existing managed services for valuations and performance measurement with risk reporting.
“Once the software replacement is completed, we will swiftly expand the service to other geographies. Ultimately, we will be able to offer all clients a choice of service delivery, with the client taking either the software as a service or using StatPro’s new managed service.”
The above notifications are made in accordance with the requirements of the EU Market Abuse Regulation.
StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the g...View article
StatPro Group plc (AIM:SOG, “StatPro”, “the Group”), the AIM listed provider of cloud-based portfolio analysis and asset prici...View article
StatPro Group plc, (“StatPro”, “the Group”, AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pr...View article