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 three-year CAD6.0 million (£3.6 million) contract extension with a large Canadian wealth business for its Software as a Service (“SaaS”) version of StatPro Seven, including an uplift in contract value over the three-year period of CAD1.2 million (£0.7 million).
Whilst the Group has been focusing on converting clients of StatPro Seven to StatPro Revolution, certain modules of StatPro Seven are not yet scheduled for conversion and are still being actively marketed as Software as a Service.
Today, approximately 74% of the Group’s software revenue is SaaS, including StatPro’s hosted and cloud-based solutions.
Justin Wheatley, Group CEO, commented: “This is a strong endorsement of our SaaS version of StatPro Seven and a testament to this product’s resilience. As clients look to consolidate suppliers, they want to work with companies that can offer not only a broad range of capabilities, but also the highest levels of service and efficiency.
“Our strategic objective is to ensure that our clients can get the most complete solution possible from StatPro across all their processes. By providing StatPro Seven as SaaS, we fulfil this aim.”
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR)
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 £1 million in 1999 to around £39 million at the end of December 2016. The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 36 countries around the world. Approximately 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.