StatPro Group, a provider of portfolio analytics solutions for asset managers, has acquired the regulatory risk services bureau of ODDO BHF. Financial terms of the acquisition were not disclosed.
ODDO BHF is a Franco-German financial services firm. The company’s risk services generate annualised recurring revenues of nearly €1.7m.
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The acquisition adds managed regulatory risk services to StatPro’s Revolution platform. Furthermore, it increases StatPro’s client base in Germany and Luxembourg by ten.
All ODDO BHF risk services employees in Frankfurt will migrate to StatPro as part of the deal.
StatPro CEO Justin Wheatley said: “The asset management industry continues to outsource data management and standard reporting to fund administrators in order to focus on analysis and trade decision making and execution. 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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