StatPro Group PLC (LON:SOG) shares gained on Tuesday after the firm said it has agreed a contract for its Revolution service with a US asset management service provider carrying a minimum value of US$1.5mln.
The three-year contract is the third win for StatPro this month, having inked deals with two UK investment managers last week which carried a combined minimum value of around £3.8mln.
READ: StatPro jumps as it signs £1.45mln contract for Revolution with UK investment manager
The contract for StatPro Revolution, the firm’s portfolio management platform that allows users to access performance data on global securities, is for a client of the US firm, which is already a StatPro customer.
The deal takes the total number of Revolution clients to six.
Justin Wheatley, StatPro’s chief executive, said the fact that the firm had won “a large new client” by working with an existing one was “further evidence that [StatPro’s] strategy is bearing fruit”.
He added that the company was “uniquely placed” to work with large outsourcing providers to generate new business as the sector increasingly looked to reduce costs.
In afternoon trading, StatPro shares were 7.7% higher at 133.50p.
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