Orc Software, a provider of technology for trading, market making and brokerage, has sold its entire share of Infront, a trading application software company based in Oslo, Norway.
”Divesting Orc Software’s minority share of Infront is wholly in line with our strategy to further streamline our business,” says Thomas Bill, CEO, Orc Software. ”Infront is an important business partner to Orc and we will continue to market its products as a part of our solutions,” he adds.
The sale of Infront shares will result in a realised profit of about SEK 15 million. This profit will be accounted for during the third quarter of 2007.