AIM-listed StatPro acquires £1.5m-revenue risk services bureau in Europe
StatPro Group plc, provider of cloud-based portfolio analysis software for asset management firms, has acquired ODDO BHF’s regulatory risk services bureau.
The deal, completed for an undisclosed sum, has added a full managed service for regulatory risk reporting capability to AIM-listed StatPro’s core Revolution platform.
The acquisition has also added 10 new clients to the firm’s customer network across Germany and Luxembourg.
ODDO BHF is a financial services group based in France and Germany. Its risk services arm generates an annual revenue of around €1.7m (c.£1.5m).
As part of the deal, ODDO BHF risk services employees in Frankfurt will be integrated with StatPro’s existing operations.
Justin Wheatley, CEO of StatPro, said: “We are delighted to make this successful acquisition of ODDO BHF Bank’s highly rated regulatory risk service.
“Over more than 10 years they have established their service as the benchmark for the highest quality in the German and Luxembourg market.”
He continued: “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.”