StatPro to gradually acquire UBS Delta

Cloud-based portfolio analysis and asset pricing service provider StatPro Group said it agreed to buy risk and performance analytics service UBS Delta from UBS, on Friday.

The AIM-traded company said UBS Delta would enable it to extend its risk and performance analytics service from the middle office to the front office of asset managers.

It said the acquisition would be phased over three to five years, as StatPro incorporated UBS Delta's functionality into its flagship product, StatPro Revolution.

Throughout the transition, and until StatPro has fully integrated UBS Delta's functionality, UBS would continue to operate and support UBS Delta for its clients.

“This acquisition transforms our scale and capabilities and we are delighted to be working with such a highly esteemed team,” said StatPro CEO Justin Wheatley.

“It will also enable us to offer a significantly enhanced product capability for all our clients.”

Wheatley confirmed the UBS Delta platform would be maintained for the next five years while StatPro incorporated the its functionality into StatPro Revolution.

“All the UBS Delta clients will be supported fully and their current processes preserved until they are ready to migrate to StatPro Revolution.”

Hishaam Caramanli, global head securities e-commerce at UBS Investment Bank, said they were “incredibly proud” of UBS Delta and the “talented team of people” that provided the service to clients.

“We are delighted to have entered into a transaction with StatPro, a leader in this market with the technical experience and growth capital to enhance the platform and create a next generation experience for our clients.”