Orc Group and CameronTec Group join forces
- 19.10.2015 01:00 am
Orc, a global market leader in electronic trading technology, today announced that Cidron Delfi S.à r.l*, the owner of Orc Group Holding AB and CameronTec Intressenter Holding AB, the global standard in financial messaging infrastructure and tools for the capital markets industry, intends to combine both companies under a new entity.
Following Cidron Delfi Intressenter AB’s acquisition of Orc Group AB in 2012, Orc and CameronTec have operated separately, to enable the companies to fully focus on their respective product and client niches. The execution of ambitious plans has resulted in two market leading trading technology companies, each offering competitive solutions and services to the global capital markets industry.
With financial markets across the globe maturing electronically, and as IT budgets continue to be squeezed amid continued introduction of tighter regulatory measures, the resulting heightened pressure is forcing firms to streamline their trading technology. The time is now right to offer the market a truly comprehensive fully flexible infrastructure and trading solution built for the future.
“We are excited to be joining forces with CameronTec. Through its financial messaging infrastructure and services business the company has emerged as the global industry standard. CameronTec’s growth over the last few years - from focusing on a relatively niche product set, to now offering enterprise customer connectivity and onboarding solutions - is impressive.” said Torben Munch, CEO Orc Group AB. “The combination of Orc’s next-generation solutions for trading and electronic execution together with CameronTec’s market-leading connectivity and onboarding offering is highly compelling. We will now be able to address expanded customer requirements for technology infrastructure, offering regulation-proof solutions and real cost savings for clients across all geographical regions.”
“Today’s financial markets require broad technology solutions, enabling the replacement of aged legacy technology within banks and other financial institutions,” says Anders Henriksson, CEO of CameronTec Group. “At the same time, a modular approach is crucial, allowing for a flexible technology stack with a high level of optionality. The combined group will provide just this, a sophisticated and reliable trading infrastructure covering a number of asset classes, allowing our customers to focus on core business issues. We are confident that this new combination will greatly benefit both existing and new customers.”
The new combined group will be headed up by CEO Torben Munch and Executive Vice Presidents Tony Falck, Anders Henriksson and Troels Jensen. The group will continue to develop its existing strong product brands within a two division structure. The Trading & Trade Execution division will be run by Torben Munch. The Infrastructure division will be run by Anders Henriksson.
An investor telephone conference (in English) will be held on Thursday, October 15, 2015 at 3.00 p.m. CEST. Register by e-mail email@example.com or phone +46 8 506 477 00 no later than October 15, 2015 at 1.00p.m.CEST. When registering please include your name, e-mail and phone number.
*A company indirectly controlled by Nordic Capital Fund VII