StatPro Group (SOG); acquires regulatory risk services bureau from ODDO BHF

Published on 02-07-2018 07:33:57
Author Sparks Team

SOG has acquired ODDO BHF’s regulatory risk services bureau for an undisclosed sum in cash. ODDO BHF’s risk services have annualised recurring revenues of approximately €1.7m.

The acquisition adds a full, managed service for regulatory risk reporting capability, which will use SOG’s existing Revolution platform. It also adds 10 new clients to SOG’s client base in Germany and Luxembourg. SOG will market the service throughout the European Union. The acquisition is expected to enhance the group’s adjusted EPS in 2019. SOG expects annual revenue levels for the acquired service to remain broadly similar for 2018 and will incorporate ODDO BHF’s risk services revenues from 1 July 2018.

Justin Wheatley, SOG’s CEO, commented: “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. 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.”

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