According to StatPro, the acquisition is intended to extend its risk and performance analytics service and to broaden its potential market.
UBS Delta will be incorporated into the StatPro Revolution product over a three- to five-year phase-in period. UBS will continue to operate and support UBS Delta until the transition is complete.
Following this process, UBS clients will be able to migrate to StatPro Revolution. It is understood that the UBS Delta team will also transfer to StatPro.
Justin Wheatley, CEO of StatPro, commented: “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.”
“The award winning UBS Delta platform will be maintained for the next five years while we incorporate the unique UBS Delta functionality into our flagship cloud platform, StatPro Revolution. All the UBS Delta clients will be supported fully and their current processes preserved until they are ready to migrate to StatPro Revolution.”
Hishaam Caramanli, global head of securities eCommerce at UBS Investment Bank, added: "We are incredibly proud of UBS Delta, our award winning risk and performance analytics platform, and the talented team of people that provide this service to our clients.”
“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."