StatPro Group, a cloud-based portfolio analysis and asset pricing services provider, has acquired its regulatory risk services bureau from ODDO BHF in order to add a full, managed service for regulatory risk reporting capability to its offering.The service, which will use StatPro’s existing Revolution platform, is able to expand the service delivery options for StatPro clients. Additionally, the company will add ten new clients to StatPro’s client base in Germany and Luxembourg.
While at ODDO BHF, the risk services bureau annualized recurring revenues of approximately €1.7 million. 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. The company will also take on the employees of ODDO BHF risk services in Frankfurt, where they will be integrated with StatPro’s existing operations.
Justin Wheatley, Chief Executive Officer of StatPro, commented:
“We are delighted to make this successful acquisition of ODDO BHF Bank’s highly rated Regulatory Risk Service. Over more than ten years they have established their service as the benchmark for the highest quality in the German and Luxembourg market. The asset management industry continues to outsource data management and standard reporting to fund administrators in order to focus on analysis and trade decision making and execution.
Headquartered in London, UK, StatPro was founded in 1994 in order to help asset managers generate more sales, improve their client service, meet tough regulations and reduce costs. The company is listed on AIM stock market, a sub-market of the London Stock Exchange.
“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. 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”, Wheatley added.
