About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Confluence Technologies Acquires StatPro Group in £161m Deal

Subscribe to our newsletter

US-based ConfluenceTechnologies, a provider of investment data management automation for regulatory, financial and investor reporting, has acquired the UK’s StatPro Group (StatPro), a specialist in cloud-based portfolio analytic software, asset data services and data management tools for the global asset management industry and asset management service providers.

The all-cash transaction, amounting to around £161.1 million (over $207 million USD), will unite the two businesses into a comprehensive supplier of front, middle and back-office solutions to asset managers and administrators.

Mark Evans, Confluence Founder and CEO comments: “We, at Confluence, have long respected the spirit of innovation and reputation of excellence that is StatPro. StatPro’s performance and attribution, portfolio analysis and other data and risk support services are deeply complementary to Confluence’s offerings and will allow us to better help our clients achieve their goals. By acquiring StatPro, we will accelerate our plans to migrate Confluence’s performance solutions into the cloud.”

Confluence Technologies, which is controlled by US private equity firm TA Associates, originally offered 230 pence per share back in September, and last week the shareholders of StatPro voted overwhelmingly to support the deal, with 99.9% of votes in favour of the acquisition terms. The deal will take the AIM-listed firm private.

Through its main product, the Revolution Platform (which allows users to access portfolio performance measurement tools and analytics from an online web browser), StatPro has had a strong year in terms of performance. In May, the firm secured a three-year contract extension from a top 20 fund administrator worth an estimated £2.44 million, while it also confirmed a deal with an EU investment manager for its Revolution service worth a reported €1.2 million. In June, StatPro partnered with JP Morgan’s Data and Analytics business to give JP Morgan clients access to the Revolution platform, opening up a significant new channel for its services.

StatPro also sells ‘Source: StatPro’, a data-as-a-service business that can bolt on to the Revolution platform to add market and securities data; and is also home to Infovest, a software firm providing post-trade compliance solutions, data management and regulatory reporting services for the buy-side. In 2017, it acquired performance and risk analytics service Delta from UBS.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Taking a holistic approach to buy-side data management

Date: 7 February 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes As data volumes and complexity continue to increase, buy-side data management is at an inflection point. Manual processes and data siloes are no longer fit for purpose, and firms need to take a more holistic approach to data management...

BLOG

Bank of England and FCA Review Joint Transformation Programme Dedicated to Data Collection

The Bank of England and Financial Conduct Authority (FCA) have provided an update on the joint transformation programme they set up in 2021 to overhaul data collection from UK financial services firms. The aim is to improve regulation of regulated firms and ease the burden of reporting for these firms. The programme is expected to...

EVENT

RegTech Summit APAC

Now in its 2nd year, the RegTech Summit APAC will bring together the regtech ecosystem to explore how capital markets in the APAC region can leverage technology to drive innovation, cut costs and support regulatory change. With more opportunities than ever before for RegTech to add value, now is the time to invest for the future. Join us to hear from leading RegTech practitioners and innovators who will share insights into how they are tackling the challenges of adopting and implementing regtech and how to advance your RegTech strategy.

GUIDE

The Data Management Challenges of Client Onboarding and KYC

This special report accompanies a webinar we held on the popular topic of The Data Management Challenges of Client Onboarding and KYC, discussing the data management challenges of client onboarding and KYC, and detailing new technology solutions that have the potential to automate and streamline onboarding and KYC processes. You can register here to get immediate...