12 Feb 2016
Traditional module transferred for a shareholding
StatPro is exchanging its existing StatPro Seven compliance module (SPC) licence contracts for a 51% stake in InfoVest Consulting. StatPro Seven is StatPro’s legacy traditional software platform. While most of StatPro Seven’s modules are migrating to the Revolution cloud platform, StatPro had no plans to upgrade SPC functionality to the cloud. Nevertheless, the SPC module has a distinct market niche, and given InfoVest's specialist skillset, it makes sense for StatPro to transfer the development, support and sale of the product to InfoVest. Further, InfoVest will have access to StatPro's global client base to help grow SPC's sales (we understand an ARR of c £500k). Additionally, InfoVest brings to StatPro standardised data solutions that will be particularly useful for the process of streamlining customer data in the implementation of cloud transition contracts.