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 Orc Group
Orc is a global market leader in electronic trading technology for listed derivatives. Successful trading desks depend on Orc to deliver unrivaled next-generation derivatives trading and electronic execution solutions, which they require to stay ahead of the competition.
Dedicated to long-term partnerships and continuous innovation that delivers results, Orc serves the needs of leading trading firms, market makers, banks and brokers worldwide. With 200 customer sites in more than 30 countries, access to over 150 trading venues and offices in each of the world’s key financial centers, Orc offers true global capabilities.
Combining our technology and financial industry expertise, including a solid understanding of regulatory issues, Orc also provides expert advice and services that help reduce complexity and cost, while enabling clients to stay fully focused on their core trading activities.
In October 2015, Orc joined forces with CameronTec, the global standard in financial messaging infrastructure, to the most powerful trading and connectivity technology offering for capital markets.
Orc is owned by Orc Group Holding AB, which in turn is majority-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 Orc 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.