Source: Orc Software
Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced the completion of divestment of its 51% share held in E2E Infotech Limited.
Orc Software announced its intention to divest shareholding in E2E infotech Ltd on April 25, 2007. The buyer is aurionPro Solutions Limited, a technology and product solutions company headquartered in Mumbai, India.
During the first half of fiscal year 2007, E2E, as a consolidated subsidiary, had a marginal impact on revenue and income for Orc Software. E2E 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.