Published on: January 6, 2015
Contract win underlines cloud credentials
StatPro has announced that one of its customers, a large European asset manager, has signed a three year contract to upgrade its current StatPro Seven platform to the StatPro Revolution platform. This highly significant deal is an early validation of the Group’s strategy to transition to a purely cloud-based provider of analytics services. The customer is not only moving to StatPro Revolution (with SatPro R+ to be added on its release) but will also be paying 55% more for StatPro’s services. This latter point reflects, inter alia, the improved productivity and distribution of information which StatPro Revolution offers. This is clearly positive and underpins estimates. A trading update is expected later in January.