Confluence has acquired Statpro, a cloud-based performance and risk platform designed to increase productivity and lower costs. Confluence has acquired the entire business and to be issued ordinary share capital of StatPro in an all-cash offer of around £161.1 million (over $207 million USD).
The deal blends two highly complementary firms to build a leading supplier of all side office solutions to asset managers and administrators. Both companies have similarities in performance, attribution, and portfolio analysis, and other data and risk support services.
“We, at Confluence, have long respected the innovation and reputation of excellence that is StatPro,” says Mark Evans, Confluence Founder, and CEO.
With the acquisition, Confluence is planning to migrate its solutions into the cloud and expand the businesses and strengthen the value of both companies at a global level.
“Both companies are founder-led with cultures of innovation, integrity, imagination, discipline, and service, and we are pleased to invite the employees of StatPro to the Confluence team,” Mark adds.
With over twenty years of experience in Datatech, both companies have high value in the business world. Founded in 1992, Confluence is the leader of the DataTech. The company has witnessed the complete evolution of the industry. It is zeroing in on various levels of services such as data valuation, using the verified data across multiple regulatory, financial, statutory, performance, and investor communications deliverables for speed, efficiency, and control.
Founded in 1994, StatPro is using high-end technology to make advanced portfolio analytics for investment managers of any size. The award-winning technology makes the process straightforward and maximum cost-effective. Spread in 37 countries, StatPro has more than 450 clients.
“We couldn’t be merrier to be part of a like-minded company to offer asset managers and fund administrators with an even huge range of support services and analytics,” StatPro Founder Justin Wheatle commented on the acquisition.
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