STOCKHOLM/PRNewswire/ --
Tbricks (http://www.tbricks.com ) today announced that it has signed an agreement to sell 100% of the shares in Tbricks AB to Orc Group Holding AB's owner Cidron Delfi Intressenter Holding AB.
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Founded in 2006, Tbricks pioneered the app-based trading platform for market makers, proprietary traders and banks. Following today's merger with Orc, Tbricks' platform will now form the foundation of Orc's core trading products going forward.
"We are very excited to announce Cidron Delfi Intressenter Holding AB's acquisition of Tbricks. Jonas Hansbo and team have conceptualized and launched a strong, flexible trading platform, designed for the requirements of tomorrow. Orc remains committed to providing the best products and services for trading and electronic execution," said Torben Munch, CEO Orc Group. "I anticipate the acquisition to significantly strengthen Orc's offering in the trading domain, and help us continue servicing the most sophisticated participants in global capital markets. The Tbricks team constitutes some of the most skilled, passionate and experienced technologists in the trading domain today, and the addition of them to our team will greatly enhance our competitiveness going forward."
"Orc has been the global market leader in exchange traded derivatives for more than a decade. Given their broad market exposure, extensive domain experience and strategic focus, we think Orc is the perfect match for us and our clients," said Jonas Hansbo, CEO Tbricks. "Orc has a great history of innovation with its industry-first automated server based trading solution Orc Liquidator. 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. We remain committed to our clients, and are confident the combination will benefit them greatly. It gives me great joy to play a role in architecting Orc's future."
About Tbricks
Tbricks provides the next-generation trading system that empowers the professional trader. Tbricks delivers an open, solid and very fast core platform complemented by a rich set of trading apps. Tbricks supports premier trading and market making institutions in Europe and North America.
About Orc
Orc is the global market leader in trading technology for listed derivatives. Building on our commitment to long term partnerships and technology innovation that delivers results, Orc serves the trading and electronic execution needs of clients worldwide.
Leading trading firms, market makers, banks and brokers around the globe depend on Orc to provide robust solutions that deliver concrete value, ensuring that they achieve their business goals in the world's increasingly dynamic and competitive markets. With nearly 200 customer sites in more than 30 countries, access to over 150 trading venues and offices in each of the world's key financial centers, we offer true global capabilities.
Combining our technology and financial industry expertise, including a solid understanding of regulatory issues, Orc also provides expert advice and services that help reduce complexity and cost, while enabling clients to stay focused on value creation in their core businesses.
Orc is owned by Orc Group Holding AB which in turn is owned mainly by Nordic Capital Fund VII.
For further information, please contact:
Jonas Hansbo, CEO Tbricks, jonas@tbricks.com, +46-706-525193
Torben Munch, CEO Orc Group, Torben.Munch@orc-group.com, +45-2223-4789
SOURCE Tbricks