UBS, Switzerland’s largest lender, has agreed to sell an award-winning risk- and performance-tool to a London-based portfolio analyst.
UBS sold its UBS Delta system to Statpro, a portfolio analysis firm based in London, according to a statement by the buyer today.
UBS Delta is a portfolio analysis and risk management system, which allows clients to measure the risks and performance of fixed income, commodities and equity investments.
Price Not Disclosed
Statpro bought the award-winning platform for an undisclosed amount of money. U.K.-based publication «Proactiveinvestors» said Statpro agreed to pay about 14 million Swiss francs.
The transaction will be concluded over the course of three to five years, the statement said. During this transition period, Statpro will integrate the UBS Delta functionalities into its own product called «Statpro Revolution».
UBS Delta Customers to Be Migrated
After the successful integration, Statpro will migrate UBS Delta customers. The Swiss bank will guarantee its clients support and service throughout the transition period, according to the statement.
