Orc Software has completed its divestment of its 51% share held in E2E InfotechStockholm Limited.
Orc Software announced its intention to divest shareholding in E2E infotech Ltd on 25 April, 2007. The buyer is aurionPro Solutions Limited, a technology and product solutions company based 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 profit of about 4.5 million Swedish Krona, which will be reflected in the income statement for the fourth quarter of 2007.