StatPro to acquire risk and performance analytics business from UBS
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
“UBS Delta will enable StatPro to extend its risk and performance analytics service from the middle office to the front office of asset managers,” the buyer says.
“The way risk and performance is used in the front office of asset managers is functionally different to the way the middle office works, which is StatPro’s traditional market.”
According to Justin Wheatley, StatPro’s CEO, this acquisition “transforms the company’s scale and capabilities”.
The takeover is phased over three to five years as StatPro incorporates UBS Delta’s functionality into its flagship product, StatPro Revolution. Until the transition is completed, UBS will continue to run and maintain UBS Delta for its existing clients.
“All the UBS Delta clients will be supported fully and their current processes preserved until they are ready to migrate to StatPro Revolution,” assures Wheatley.