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Stockholm, Sweden-based Orc Group, a provider of listed derivatives trading technology, reports that its owner, Cidron Delfi Intressenter Holding, has signed an agreement to acquire Tbricks, also headquartered in Stockholm, a provider of trading technology to “market makers, proprietary traders and banks,” according to an Orc statement.
Cidron Delfi Intressenter Holding AB, the acquiring entity, is in turn majority-owned by Nordic Capital Fund VII, according to the statement, which notes also that Tbricks has customers across Europe and the U.S., and offices in Chicago, London, Stockholm and St Petersburg, Russia.
The Tbricks ownership will transfer to Orc Group AB, “once consent has been obtained from SEB according to the terms in Orc Group´s loan agreement with SEB,” according to the statement, an English-language translation from Swedish.
SEB is the venerable Swedish investment bank, founded in the mid-19th century, focused on the Nordic and Baltic countries.
“With this merger, the advanced software from Tbricks will be married with Orc’s strong ownership and global distribution capacity to create another breakthrough, leapfrogging existing platforms, and fueling Orc for the next ten years and beyond,” Jonas Hansbo, CEO of Tbricks, says in the statement. “We remain committed to our clients, and are confident the combination will benefit them greatly.”
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