TA Associates-backed Confluence Technologies, a software firm that provides back-office automation systems to the investment management industry, completed the acquisition of StatPro Group, a United Kingdom-based company engaged in the development, marketing and distribution of software systems, for £161m. The acquisition price represents a premium of approximately 54.9% to the closing price per StatPro Share on 19 September 2019. Confluence Technologies believes that the Acquisition represents an opportunity to achieve greater client penetration for Confluence' regulatory reporting and investor communications products and services in the end markets in which StatPro has established long-standing relationships and an excellent reputation. Furthermore, Confluence anticipates enabling StatPro to achieve greater market penetration of its products and services in the North American market. When combined, the product and service suite offered to asset managers and administrators will offer compelling value to asset servicers and managers the world over. "Confluence is an excellent and complementary partner both in terms of geographical disposition and product capabilities. The combined entity will offer asset managers and fund administrators a more comprehensive range of support services and analytics on one platform. For shareholders, this transaction values StatPro at a very attractive premium of 54.9% to StatPro's last closing share price. For our colleagues around the world, Confluence, who we have got to know well, have indicated that they plan to invest in StatPro and with their substantial resources will provide a wider range of opportunities," Rory Curran, StatPro Non-Executive Chairman.