Forward, sons of Ivor,' cried their chief, 'or the Camerons
will draw the first blood
For if Colin Roy can get his business done in Appin, he has it all to begin again in the next country, which they call Mamore, and which is one of the countries of the Camerons
STOCKHOLM, Sweden -- Orc Software (STO:ORC) has signed an agreement to acquire Cameron Systems of Australia, the world's leading supplier of Financial Information eXchange platforms (FIX), for a maximum of USD 32 million (SEK 256 million).
Cameron is expected to achieve sales for the financial year ending June 30, 2006 in excess of USD 8.
The acquisition of Cameron will be financed using USD 11 million (SEK 88 million) of cash and USD 10 million (SEK 80 million) in Orc shares.
Orc Software and Cameron are market leaders in their respective business areas.
The direct effects are related to sales of Cameron FIX components to Orc clients and Orc Software's direct market access interfaces to Cameron's clients.
Together Orc and Cameron will provide a unique product range enabling our customers to connect their customers and partners, in order to automate order flows to a much larger extent", says Jonas Lindstrom, CEO of Orc Software.
Magnus Bocker, Chairman of Orc Software says: "We expect Orc Software's increased competitiveness following the acquisition of Cameron Systems to be significantly value enhancing to our shareholders.
Cameron's founder and CEO, John Cameron says: "Since reaching our position of market leader in the FIX space, we at Cameron Systems have been giving considerable thought how to best take our company to the next level.
The objective is to use the leading technical solutions from Cameron as the FIX interface to OMX systems, and more broadly to leverage Cameron's knowledge of the FIX protocol.
Financial advisor to Cameron Systems was Marlin & Associates.