Fintech Firm StatPro Acquires UBS’ Delta Platform

StatPro acquired UBS’ Delta platform for EUR 13 million ($13.7 million); news of the deal caused shares in the AIM listed StatPro to jump 10%; the deal will help StatPro to reach scale in terms of revenue and clients according to StatPro’s CEO Justin Wheatley; the transaction shows that not only banks are able to acquire or partner with fintech firms, but fintech firms can look to acquire parts of a bank as well; in an interview with Business Insider Wheatley explained, “Acquisitions are part of our strategy, however in the short term this is a very big deal for StatPro — it adds 40% to our revenues — I think we’ll be digesting this lump for a little while before we carry on but I certainly wouldn’t rule out any more deals later on.”  Source

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