StatPro acquires ODDO BHF risk services division

The AIM-traded company said the acquisition would add a full, managed service for regulatory risk reporting capability, which would use StatPro's existing ‘Revolution’ platform, thus expanding the service delivery options for StatPro clients.

It would also add 10 new clients to StatPro's client base in Germany and Luxembourg, with the service to be marketed by StatPro throughout the EU.

StatPro said the ODDO BHF risk services division had annualised recurring revenues of around €1.7m, with the acquisition expected to enhance group adjusted earnings per sahre in 2019.

It said it expected annual revenue levels for the acquired service to remain “broadly similar” for 2018, and would incorporate ODDO BHF risk service revenues from 1 July.

StatPro added that it would take on the employees of ODDO BHF risk services in Frankfurt, where they would be integrated with StatPro's existing operations.

“We are delighted to make this successful acquisition of ODDO BHF Bank's highly rated regulatory risk service,” said StatPro chief executive officer Justin Wheatley.

“Over more than 10 years they have established their service as the benchmark for the highest quality in the German and Luxembourg market."

Wheatley said that the asset management industry continued to outsource data management and standard reporting to fund administrators in order to focus on analysis and trade decision making and execution.

“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,” he added.

“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.”