Nordic Capital Said to Weigh $500 Million Sale of Itiviti

Updated on
  • Private equity firm is working with Morgan Stanley on sale
  • Itiviti was formed after a combination of Orc and CameronTec

Scandinavian private equity firm Nordic Capital is exploring a sale of its financial technology and services business, Itiviti AB, in a deal that could fetch about $500 million, according to people with knowledge of the matter.

The buyout firm is working with Morgan Stanley to find a buyer, the people said, asking not to be named as the talks are private. Representatives for Nordic Capital and Morgan Stanley declined to comment.

The company was formed when Nordic Capital combined electronic trading firm Orc Group Holding AB and financial messaging infrastructure company CameronTec Intressenter Top Holding AB in a deal that closed earlier this year, creating a larger company that provides technology platforms for traders, banks and investment managers. The company has estimated annual revenue of 700 million kronor ($82.4 million), Nordic Capital said in February.

Nordic Capital is in early talks with investors to raise about 3.5 billion euros ($3.9 billion) for its ninth fund, people familiar with the deliberations said this month. It also holds investments in Swiss laboratory and services business Unilabs SA, wound care and hospital products developer ConvaTec Inc. and wheelchair and mobility manufacturer Sunrise Medical Inc.