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Orc and CameronTec combination finalized

First Published 1st April 2016

Legal structures combined and financing integrated. New combined company, Itiviti, formed on 2 February 2016.

Stockholm, Sweden - Orc Group (under name change to, and hereafter referred to as Itiviti Group) has announced the completion of the combination with CameronTec.

Orc and CameronTec announced the establishment of the new combined company Itiviti on 2 February 2016

In order to simplify and align 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.