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StatPro jumps as it clinches deal with UK investment manager for Revolution Delta service

The three-year contract, carrying a minimum value of £2.35mln, will involve the investment manager using the service to manage multi-asset risk and fixed income investments
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The deal is the second signed for Revolution Delta over the last four weeks

StatPro Group PLC (LON:SOG) shares jumped in early trading Tuesday after it secured a deal with a large UK investment manager to provide its Revolution Data service.

The software firm said the three-year contract, carrying a minimum value of £2.35mln, will involve the investment manager using the service to manage multi-asset risk and fixed income investments.

READ: StatPro jumps as it inks three-year contract with large European insurance group

Justin Wheatley, StatPro chief executive, said the “precision of the fixed income pricing, as well as the broad functionality of the service”, made Revolution Delta an “ideal solution” for the company’s front office.

"This significant contract extension underlines the quality of the Revolution Delta product for customers operating in the fixed income markets and is a confirmation of our capability to provide Revolution Delta clients continuity of service from within our Revolution platform."

The contract is StatPro’s second win for the Revolution Delta service within the last month. In December it signed a three-year contract with a large European insurance group worth £1.12mln.

Shares were up 5.4% at 117.5p.

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