Itiviti, backed by Nordic Capital Fund VII, has announced the intention to combine with ULLINK to build a full service technology and infrastructure provider for global and regional financial institutions.
The proposed combination of Swedish based Itiviti, a provider of trading software for banks and trading firms, offering the full spectrum of sell-side capabilities and ULLINK, a platform for cash equity and derivatives trading solutions, will create a provider of capital markets technology with revenues of over $200 million, 1,000 employees and a local market presence in all major markets of Europe, Asia and the Americas.
Torben Munch, CEO of Itiviti said: "The proposed combination will offer our customers the industry's broadest range of products based on modern, flexible technology. The global reach of the combined entity will be unique and both ULLINK and Itiviti share the ambition to meet our customers' demand for solutions that cover all asset classes and the full value chain. In a world with increasing regulatory pressure and changing market structures the combined entity would become the reliable and long-term partner our clients can depend on."
The transaction is subject to consultation of the French works council and customary antitrust and regulatory approvals.