Swiss bank UBS has struck a €13 million deal to sell an analytics service used by insurers, fund managers and pension schemes to a London-listed provider of cloud-based tools for the buyside.

UBS Delta, which measures risk and performance across fixed income, commodities, equities and foreign exchange, is being sold to StatPro Group, according to a statement today. The acquisition price is to be paid in cash over three years, including an upfront payment of €8.7 million, StatPro said in the statement.