Orc Group and CameronTec Group combination finalized
Legal structures combined and financing integrated
Stockholm, Sweden, Friday, April 1, 2016 – Orc Group Holding AB (under name change to, and hereafter referred to as Itiviti Group Holding AB) today announced the completion of the combination with CameronTec Intressenter Top Holding AB. Orc and CameronTec on 2 February 2016 announced the establishment of the new combined company Itiviti. With the purpose of simplifying and aligning the structure and organization of the new Group, the legal structures are merged through the incorporation of CameronTec Intressenter Top Holding AB under Itiviti Group Holding AB. In connection with the transaction, the new Group’s cash management is optimized through the repayment of a SEK 220 million bank loan, using existing cash balances and credit facilities. The interim report for Q1-2016 will show financials for the combined new Group. As previously communicated, Itiviti for the full year 2015 reported revenues of SEK 685 million and EBITDA of SEK 317 million.
About Itiviti Group
Itiviti is a world-leading technology provider for the capital markets industry. Trading firms, banks, brokers and institutional clients rely on Itiviti technology, solutions and expertise for streamlining their daily operations, while gaining sustainable competitive edge in global markets.
With 13 offices and serving more than 400 customers worldwide, Itiviti was formed by uniting Orc Group, a leader in trading and electronic execution, and CameronTec Group, the global standard in financial messaging infrastructure and connectivity. From its foundation in 2016, Itiviti has a staff of 400 and an estimated annual revenue of SEK 700 million.
Itiviti is committed to continuous innovation to deliver trading infrastructure built for today’s dynamic markets, offering highly adaptable platforms and solutions, enabling clients to stay ahead of competitive and regulatory challenges.
Itiviti is owned by Nordic Capital Fund VII.
For further information, please contact:
Tony Falck, CFO, Itiviti Group, Tel. +46 8 506 477 24
The information in this press release is subject to the disclosure requirements of Itiviti Group Holding AB under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication on April 1, 2016, 8:00 a.m. CEST.
N.B. The English text is a translation of the Swedish text. In case of discrepancy between the Swedish and the English text the Swedish version shall prevail.