TECHNOLOGY

UBS to sell buy-side analytics platform

The acquisition of UBS Delta by StatPro will enable it to expand its portfolio analysis services to the front-office.

By Joe Parsons joe.parsons@strategic-i.com April 07, 2017 10:16 AM GMT

UBS has agreed to sell its risk and performance analytics service, UBS Delta, to a cloud-based portfolio analysis provider for €13 million.

StatPro Group, which offers portfolio analysis and asset pricing services to asset managers, will acquire UBS Delta in a bid to extend its risk and performance analytics services from the middle-office to the front-office for the buy-side.

"This acquisition transforms our scale and capabilities and we are delighted to be working with such a highly esteemed team. It will also enable us to offer a significantly enhanced product capability for all our clients,” said Justin Wheatley, CEO, StatPro.

UBS will continue to manage and operate the platform until it has become fully integrated with StatPro, which is estimated to take approximately three years the company said in a statement.

The acquisition will be phased over three to five years, with an initial payment of €8.7 million.

StatPro will also take on Delta’s 54 employees and contractors.

"We are delighted to have entered into a transaction with StatPro, a leader in this market with the technical experience and growth capital to enhance the platform and create a next generation experience for our clients,” said Hishaam Caramanli, global head securities eCommerce, UBS Investment Bank.