Derivatives technology firm Orc has acquired Tbricks, a provider of app-based trading platforms for market makers, proprietary traders and banks.
Tbricks launched in 2006 and reaches customers in Europe and the US. The technology provider has offices in Chicago, London, Stockholm and St Petersburg, Russia.
“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,” said Torben Munch, CEO Orc Group.
“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.”
The deal has been made with Orc Group Holdings owner Cidron Delfi Intressenter Holding, which will then transfer the ownership to Orc following regulatory approval.
“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,” said Jonas Hansbo, CEO Tbricks.
“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.”