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SimCorp updates 2016 revenue growth estimate

SimCorp A/S updated its expectation of SimCorp Dimensionlicenses signed during 2016 to 50% on subscription-based terms and 50% onperpetual-based terms, compared to its initial estimate of 75% and 25%, respectively.

The update came as SimCorp signeda license agreement with investment management firm Franklin Templeton Cos.LLC, which selected SimCorp Dimension to support its back office and investmentaccounting operations. Under the agreement, Franklin Templeton's back officeaccounting systems will be moved to a single integrated global accountingplatform.

SimCorp also updated its expectedrevenue growth in 2016 to between 5% and 10% in local currencies, from theprevious range of 3% to 8%. The expected EBIT margin measured in localcurrencies also ticked up to between 22% and 24% from between 21% and 24%.