Stockholm-based derivatives trading technology vendor Orc Software says it has completed the divestment of its 51% share in E2E Infotech Limited.
Orc Software announced its intention to divest the shareholding in E2E on 25 April 2007. The buyer is aurionPro Solutions Limited, a technology and product solutions company headquartered in Mumbai, India.
Orc says that during the first half of the 2007 fiscal year the E2E subsidiary had a marginal impact on revenue and income. It is included in the Orc Software consolidated accounts up to and including September 2007.
The sale of E2E shares will result in a realized profit of about SEK 4.5 million, which will be reflected in the income statement for Q4, 2007.