OREANDA-NEWS. StatPro Group plc, the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry has entered into a three-year contract with a large Australian financial institution for a total value over the period of A$4.5 million (US$3.3 million). This deal significantly increases StatPro's presence in the important Australian market.

StatPro will supply its Revolution platform including the new Revolution Performance module.

The Australian company will use StatPro's latest cloud technology to replace its legacy system which will enhance the service offering to its many clients and grow its position in the Australian and Pacific market.

StatPro Revolution Performance is the core transaction-based performance measurement module that will enable StatPro to complete the process of migrating its clients from StatPro Seven to the cloud-based Revolution platform.

The scalability, speed and efficiency of cloud technology means Revolution Performance will enable large asset managers and fund administrators to reap significant economies of scale and efficiency gains compared to legacy software solutions.

Justin Wheatley, Chief Executive of StatPro, commented:

"This significant contract win in Australia is a strong vote of confidence in our soon to be launched Revolution Performance. This follows an intensive review of the platform capabilities by our client.

"Revolution remains the only cloud-based platform providing complete portfolio analytics and data management available in the market today.

"We look forward to officially launching Revolution Performance in Q3 2016."