Orc Software sells minority holding
STOCKHOLM, August 23, 2007 – Orc Software (SSE: ORC), the leading global provider of technology for advanced trading, market making and brokerage, today announced it has sold its entire share of Infront, a trading application software company based in Oslo, Norway.
”Divesting Orc Software’s minority share of Infront is wholly in line with our strategy to further streamline our business,” says Thomas Bill, CEO, Orc Software. ”Infront is an important business partner to Orc and we will continue to market their products as a part of our solutions.”
The sale of Infront shares will result in a realised profit of about SEK 15 million. This profit will be accounted for during the third quarter of 2007.
For further information, please contact:
CEO, Thomas Bill, phone +46-8-407 38 35
CFO, Anders Berg, phone +46-8-407 38 24
About ORC Software
Orc Software (SSE: ORC) is a leading global provider of technology for advanced derivatives trading and connectivity. Customers include leading investment banks, trading and market-making firms, exchanges, brokerage houses, institutional investors, hedge funds and software vendors.
CameronFIX, the number one Financial Information Exchange protocol (FIX) electronic trading standard, is an Orc connectivity solution. CameronFIX provides the high performance FIX gateway to Orc’s 100+ global market connections and is also used as a stand-alone solution by major members of the global financial industry.
Orc Software has offices in Chicago, New York, Toronto, London, Stockholm, Frankfurt, Milan, Vienna, Zurich, St. Petersburg, Moscow, Hong Kong and Sydney.