StatPro Group PLC (LON:SOG) shares jumped in early trading Wednesday after it inked a three-year contract with a large European insurance group for its Revolution Delta service.
The cloud-based portfolio analysis and asset pricing services provider said the £1.12mln contract extended the use of its services for an existing client, adding that the insurer used Revolution Delta to manage its liability-driven investments.
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StatPro added that it had now devised a plan to continue using Delta, which it acquired in May 2017, within the Revolution platform to ensure “seamless integration with no disruption to the existing service”.
Justin Wheatley, chief executive of StatPro, said: "We have recently announced that we are now providing our Revolution Delta clients continuity of service from within our Revolution platform. This means that our Revolution Delta clients will not have any disruption to their service but will instead benefit from the enhanced and broader functional capacity of Revolution."
READ: StatPro bags £1mln contract with existing customer for its Infovest service
The win follows a £1mln contract signed in October with another of StatPro’s existing customers, a large South African financial institution, for its Infovest service.
Shares were up 3.3% at 111p.
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