World News: 07:05 GMT Wednesday 12th June 2019. [Statpro Group via Globe Newswire via SPi World News]
London, UK, June 12, 2019 (GLOBE NEWSWIRE) --
StatPro Group plc (AIM:SOG, “StatPro”, “the Group”), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has acquired the environmental, social and governance (“ESG”) research and index business unit (“ECPI”) from ECPI Group Srl for a total estimated consideration (included deferred contingent consideration) of €2.9 million (£2.6 million) in cash.
ECPI provides ESG indices and benchmarks and related services including constructing client specific benchmarks. It carries out ESG research and produces ratings on an active universe of approximately 3,500 companies (total universe of 4,500+) globally and uses these ratings to qualify companies for inclusion into a series of ESG investable indices, or to provide portfolio screening services.
The consideration for the acquisition comprises:
StatPro expects annual revenue levels for the acquired service to remain broadly similar for 2019 and will incorporate ECPI revenues from completion in July 2019.
StatPro will take on the employees of ECPI ESG research and index Unit in Milan, where they will be integrated with StatPro Italia’s existing operations.
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.
StatPro Group () provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers.
The Group has 10 offices in Europe, North America, South Africa and Australia, servicing around 500 clients in 40 countries. It is organised into three divisions: Revolution, Source: StatPro and Infovest.
StatPro Group plc shares are listed on AIM.
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Globe Newswire: 07:05 GMT Wednesday 12th June 2019
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