Via Venture Partners, a leading Nordic multi-stage private equity firm, invests in Profit Software Ltd. Together with Finnish Industry Investment Ltd. and the management of Profit Software Ltd., Via Venture Partners acquires 100% of the company’s shares.
Profit Software Ltd. is dedicated to serving insurers with proven, state-of-the-art solutions. The company was established over 20 years ago in 1992. During the past few years the business has grown significantly with turnover reaching 9,6 million euros in 2013.
– I’m very pleased that Via Venture Partners decided to invest in Profit Software. Our focus is very much on the Nordic market and a Danish equity company investing in us is a perfect match with our strategy. The acquisition also enables us to maintain our position as an independent company, states Profit Software’s CEO Ilkka Starck.
With the deal Via Venture Partners strengthens its portfolio within IT sector.
– Via Venture Partners have looked at the Nordic market for insurance software for several years and are very pleased that we will now be able to help Profit Software expand across the Nordic Region. Ilkka Starck and the rest of the management team have done a tremendous job over the past few years in positioning Profit Software as the leading software provider in the Life & Pension market in the Nordic Region, says Benjamin Kramarz, responsible investment officer from Via Venture Partners.
In 2014 Profit Software made its first major deal in Sweden when Swedish insurance company, Länsförsäkringar, chose Profit Software to modernize its pension payment system. The project is ongoing and the new system will be in production during 2015.
– I believe that with Via Venture Partners we have good opportunities to continue our strong focus on customer satisfaction and simultaneously further enhance our presence in the Nordic countries. Our target is to grow the company and it’s business in the Nordics and create more success stories in the future, summarizes Starck.
For further information please contact:
Profit Software, CEO Ilkka Starck, Phone +358 40 760 0074
Via Venture Partners, Benjamin Kramarz, Phone +45 2174 9278
Finnish Industry Investment, Investment Director Juha Lehtola, Phone +358 40 064 7671
About Profit Software
Profit Software is dedicated to serving insurers with proven, state-of-the-art solutions and close collaboration. Profit Software was established in 1992 and is the industry leader in Finland and the Baltic states with over 50% market share. Offices are located in Espoo (headquarter), Pori and Tallinn. Profit employees 90 persons
About Via Venture Partners
Via Venture Partners is a leading Nordic private equity firm mainly focused on small- and midcap companies. The management company has DKK 2 billion in committed capital in two funds under management. 99.8% of the capital is provided by ATP, Denmark’s largest pension fund, and the remaining is provided by the employees of Via Venture Partners A/S. Today the Via Venture Partners portfolio consists of 14 companies of which 9 are Danish and the remainder resides in other Nordic countries.