Profit Software was acquired by Volpi Capital

Profit Software, an Espoo, Finland-based provider of software and consultancy services focusing on banks and insurance companies, announced that it was acquire dby the private equity company Volpi Capital.

Financial details were not disclosed. The deal was made with existing shareholders Via Equity and Finnish Industry Investment Ltd (Tesi), which divest their stakes. The buyer of the company is a newly formed vehicle controlled by funds managed by Volpi Capital LLP.

Via Equity invested in Profit Software in 2014.

As part of the transaction, the Company’s management team will re-invest alongside Volpi to continue executing the pan-Nordic expansion strategy.

Profit Software, led by CEO Ilkka Starck, is a software vendor focusing on banks and insurance companies, also offering a wide range of expertise and services within business analytics and data management across multiple industries. The company operates out of six offices across Finland, Sweden and Estonia.