StatPro Group: Major Singapore client migrating to Revolution

StatPro Group Plc | Published on 10/08/2017

StatPro has announced that a Singapore-based asset manager (and existing client) has signed a $1m, two and a half year contract extension and consulting agreement to migrate from StatPro Seven to the Revolution platform. This is further evidence of the expansion of contracts which can take place as clients migrate to Revolution, and follows a number of such contract extensions and expansions announced during 2017. The deal further underpins the outlook for the Group’s annualised recurring revenue (ARR) which was also boosted by the recent acquisition of Delta; over four-fifths of StatPro’s software ARR now comes from cloud services. While Revolution is growing, StatPro Seven continues to show resilience - we recall a contract extension announced earlier this year and the improved demand for StatPro Seven’s Composites module highlighted in the recent interim results. While leaving estimates unchanged at present, we note the additional positive news.

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