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StatPro gobbles up remaining portion of South African software company
StatPro Group announced on Friday that it has acquired the remaining 27.3% shareholding in Infovest Consulting for £1.9m.
The AIM traded company previously had a 72.7% holding in Infovest, a South African headquartered software provider specialising in warehouse, ETL and reporting software for the asset management industry.
The Cape Town based company was founded in 2006 and also has offices in Boston, London and Sydney and has a "100% implementation success" rate according to its website
StatPro said it expects the increase in shareholding to be earnings-enhancing in the current year and that it will see further benefits arising from Infovest's growing revenues and profits.
StatPro is a software business that aims to make advanced portfolio analytics simple and cost effective for investment managers of all sizes, and has 12 offices around the world catering to over 500 customers in 38 countries.
At 0900 GMT, StatPro shares were down 0.28% to 179.00p.