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StatPro acquires regulatory risk services bureau from ODDO BHF

Published: 07:24 02 Jul 2018 BST

StatPro
StatPro said this acquisition adds ten new clients to its client base in Germany and Luxembourg

StatPro Group PLC (LON:SOG) has announced it has acquired Regulatory Risk Services Bureau from Franco-German financial services group ODDO BHF, for an undisclosed sum in cash.

The AIM-listed firm said that 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 its clients.

READ: StatPro appoints CEO for data services divisions, Source:StatPro, ahead of restructuring next year

The provider of cloud-based portfolio analytics and asset pricing services said this acquisition adds ten new clients to its client base in Germany and Luxembourg.

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.

Justin Wheatley, StatPro CEO, commented: "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.”

He added: "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."

 

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