StatPro Group PLC (LON:SOG) shares were looking up on Monday after it secured a three-year extension with a top 20 fund administrator worth at least £2.44mln.
The portfolio and risk management group said the administrator already used its Revolution platform, but the extension would be a “renewed commitment” to the service as well as an expansion of its capabilities including fixed income risk and attribution.
READ: StatPro ticks up as it inks €1.2mln deal with EU investment manager
"There is no doubt that our technology was the central reason for this contract win and extension as our cloud based solution offers unbeatable scalability and speed as well as comprehensive functionality", said Justin Wheatley, StatPro’s chief executive.
The deal followed news earlier in May that the group had secured a three-year deal with an EU investment manager carrying a minimum price tag of €1.2mln (£1.04mln).
In early trading, StatPro shares were up 2% at 130p.