CameronTec and Orc Group completed transformation into Itiviti
- Trading Systems
- 04.04.2016 10:30 am
Orc Group Holding AB (under name change to, and hereafter referred to as Itiviti Group Holding AB) 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.