StatPro buys UBS Delta
07 April 2017 | 5746 views | 0
UBS is selling its buyside risk and perfomance analytics toolbox UBS Delta and management and developer team to StatPro for £11 million.
StatPro says the acquisition will enable the firm to extend its risk and performance analytics service from the middle office to the front office of asset managers.
The company says it will integrate UBS Delta into its flagship cloud platform StatPro Revolution over the next three years. In the interim, UBS will continue to operate and support the product for its clients.
The takeover will add recurring annual revenues of £14.5 million to StatPro, giving the group a combined turnover of £53 million.
In a statement, the companies say: "The strong team of professionals that are behind the service have the knowledge and experience to make a real difference to StatPro. The way risk and performance is used in the front office of asset managers is functionally different to the way the middle office works, which is StatPro's traditional market."
Hishaam Caramanli, global head securities eCommerce, UBS Investment Bank says StatPro has "the technical experience and growth capital to enhance the platform and create a next generation experience for our clients".