StatPro Group - Recommended cash offer at 230p
StatPro has received a recommended all-cash offer at 230p per share (a 54.9% premium to the closing price) from Confluence Technologies, a private equity-backed (TA Associates) US-based provider of solutions to the global asset management industry. The offer is recommended by the board and supported by shareholders representing 65.2% of the shares. At the interims, management confirmed its focus on driving sales, having established the building blocks for growth (consolidation of the Revolution platform, new divisional structure) over the last few years.Statpro Group is engaged in the development, marketing and distribution of software systems and the provision of cloud-based portfolio analysis and asset pricing services to the asset management industry.
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