Itiviti

Business Description

Itiviti is a world-leading technology provider for the capital markets industry. Trading firms, banks, brokers and institutional clients rely on Itiviti technology and expertise for streamlining their daily operations, to stay compliant, and to seize new market opportunities. In March 2018, Itiviti was combined with ULLINK to create a full-service technology and infrastructure provider for global and regional financial institutions

Nordic Capital Fund VII acquired Orc Group though a public tender offer launched in December 2011 and completed in January 2012. In Spring 2012 the Group separated its businesses into three separate entities; Orc, Neonet and CameronTec, to enable the three operating companies to better focus on their respective product and customer niches. The majority shareholding in Neonet was later on divested.

As two separate companies, Orc and CameronTec could grow focusing on its own specialties. Orc, specialised in niche trading solutions for market makers and proprietary traders, turned its focus on larger customers, broadened its offering towards customer driven business and acquired a new best in class technology platform (Tbricks), while CameronTec, with its niched high quality FIX engine product offering made several successful add-on acquisitions, most notably Greenline Financial Technology, and expanded into adjacent business areas.

After three years apart, Orc Group and CameronTec announced its intention to combine again to create an integrated provider of complete trading technology solutions for the global capital markets. As a result, the new name and brand, Itiviti was introduced in January 2016, marking the unification as a combined company established to deliver a powerful trading and connectivity offering built for the future.

In November 2017, Itiviti announced the intention to combine with ULLINK to create a new global force in capital markets technology and infrastructure. With annual sales exceeding USD 200 million, 1,000 employees and local presence in major financial markets across Europe, Asia-Pacific and the Americas, the combination of Itiviti and ULLINK creates a full-service technology and infrastructure provider for global and regional financial institutions. The merger was completed in March 2018 and the combined entity will operate under the Itiviti name and corporate brand.

In April 2018, Nordic Capital’s 2008 vintage fund, Fund VII completed the transfer of its remaining nine unlisted portfolio companies including Itiviti, to a continuation vehicle, Nordic Capital CV1 or "CV1". Fund VII’s original term expired in December 2017 and by this transaction, Nordic Capital took the opportunity to maximise the value creation potential of these nine companies, providing them with active support and fresh capital over an additional five-year holding period under continued Nordic Capital management.

Key Information

Revenues 2018*

EUR 190 million

Employees

910

Ownership

Nordic Capital Fund VII, Nordic Capital CV1

Head office

Stockholm, Sweden

Investment date

2012, 2018

* Reported