US investment data management outfit Confluence has sealed a deal to buy UK portfolio analytics company StatPro for £161.1 million.
Founded in 1994, StatPro has 10 global offices servicing over 450 clients in 37 countries.
Confluence says the acquisition will expand its market presence in the United Kingdom, continental Europe, Asia and South Africa.
Mark Evans, Confluence founder and CEO comments: “ StatPro’s performance and attribution, portfolio analysis and other data and risk support services are deeply complementary to Confluence’s offerings and will allow us to better help our clients achieve their goals. By acquiring StatPro, we will accelerate our plans to migrate Confluence’s performance solutions into the cloud.”
The agreement was clinched with support from Confluence's private equity backer TA Associates.