Orc Group and CameronTec Formally Merge, Culminating in Launch of Itiviti
Following the merger, Itiviti will aim to leverage existing partnerships with its combined client base to launch a new modular
Jeff Patterson
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Execution
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Institutional FX )
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2016-02-02T14:01:27+00:00
2016-02-02T14:01:27+00:00
A previously announced merger between Orc Group (STO:ORC), a provider of electronic trading technology for listed derivatives, and CameronTec, has culminated in the launch of Itiviti AB, a newly named company and brand that will offer trading software and services for global capital markets, according to an Itiviti statement.
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Back in October, Orc announced its plans to unify with CameronTec into a singular entity. The company indirectly controlling the combined group is Nordic Capital Fund VII Cidron Delfi, which has acted as the de-facto owner of both Orc Group Holding AB and CameronTec Intressenter Holding AB.
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Prior to the merger, Orc Group dealt with trading technology, while CameronTec focused primarily on financial messaging infrastructure and tools for capital markets. Per the launch of Itiviti however, the group will now hold a strategic position across a wide range of channels, including banks, brokers and trading firms.
Moreover, Itiviti will leverage existing partnerships with its combined client base to launch a new modular portfolio, offering end-to-end trading, routing, connectivity, and risk management solutions. Itiviti will be headquartered in Stockholm, boasting a total of 400 personnel with thirteen offices scattered across worldwide financial hubs. From the outset, Itiviti will continue to focus on its platform and existing product suite as the core of its business, which includes Orc Tbricks and Catalys.
According to Torben Munch, Chief Executive Officer (CEO), Itiviti AB: “We are delighted to present our new company. We are doing so with the confidence of two established, successful brands, Orc and CameronTec with solid track records in our industry.”
“By combining our respective skill sets in technology, products and services we can deliver a broad, yet advanced, high-performance platform. We feel that Itiviti holds a new and unrivaled position in terms of ability to meet specific customer requirements, ease of integration, and adaptability to changes in market structure and regulation,” he added.
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