Nordic Capital buys up and merges Orc Group and CameronTec under the name ItiViti

Sweden Secondary 30 January 2016
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Itiviti AB is a Stockholm, Sweden-headquartered newly named company and brand, marking the completion of the announced unification of Orc Group, a global market leader in electronic trading technology for listed derivatives and CameronTec Group, the global standard in financial messaging infrastructure and connectivity.

The deal was made by Nordic Capital, with the objective for Itiviti to hold market leading positions in several areas from the outset, while the combination significantly expands the customer proposition for banks, brokers and trading firms.

Itiviti will continue to build partnerships with its customers, using the natural fit between Orc and CameronTec to launch a new and even more powerful portfolio: fully modular, transparent and flexible solutions for end-to-end trading, routing, connectivity and risk.

Itiviti will be led by CEO Torben Munch, has 400 staff located in 13 offices worldwide, and is covering all major financial centers.

THE CONTEXT

Nordic Capital Fund VII acquired Orc Group though a public tender offer launched in December 2011 and completed in January 2012.

In Spring 2012 Orc announced that the Group would separate its businesses into three separate entities; Orc, Neonet and CameronTec, to enable the three operating companies to better focus on their respective product and customer niches.

The majority shareholding in Neonet was later on the same year divested to Hay Tor Capital LLP, KAS BANK N.V. and Neonet's management.

Nordic Capital Fund VII's remaining shareholding in Neonet was divested to to KCG Holdings in 2016.

As two separate companies, Orc and CameronTec could grow focusing on its own specialties. Orc, specialised in niche trading solutions for market makers and proprietary traders, turned its focus on larger customers, broadened its offering towards customer driven business and acquired a new best in class technology platform (Tbricks), while CameronTec, with its niched high quality FIX engine product offering made several successful add-on acquisitions, most notably Greenline Financial Technology, and expanded into adjacent business areas.

After three years apart, Orc Group and CameronTec thus announced its intention to combine again to create an integrated provider of complete trading technology solutions for the global capital markets.

That is the context of founding ItiViti.