Profit Software buys Evolvit Ltd

Jun 15, 2017 | News

Profit Software Ltd has bought Finnish Evolvit Ltd. Acquisition strengthens Profit Software’s financial expertise in the IT sector.
Profit Software is dedicated to serving insurers with proven, state-of-the-art solutions. During the past few years the business has grown significantly with turnover reaching 11,8 million euros in 2016.

-We have for a while now wanted to broaden and strengthen our offering of products and services within the FinTech sector. This acquisition increases our expertise and will strengthen our growth, states Profit Software’s CEO Ilkka Starck.

Evolvit Ltd is a Finnish company established in 2007. It offers IT solutions to financial sector and Business Intelligence services. Evolvit’s turnover was 9,8 million euros in 2016.

-We have thought about internationalization and Profit Software already has experience of this. We’ll be able to use our knowledge even more in the future, says Evolvit’s CEO Perttu Heinonen.

After acquisition number of employees is close to 230 and there are six offices. Both companies were on Tietoviikko’s yearly list of Finland’s 250 biggest information and communications technology companies. Profit Software was ranked number 190 and Evolvit 208. Besides both got TE grade 10 that evaluates companies based on return on investment, solvency ratio and gearing.

Profit Software is owned by a Nordic multi-stage private equity firm called Via equity, Finnish Industry Investment Ltd. and the management of Profit Software. Evolvit Ltd’s management will become shareholders in Profit Software.

For further information, please contact:
Profit Software, CEO Ilkka Starck, Phone. +358 40 760 0074


Profit Software ranked number 120 on the Tivi 250 list

Tietoviikko has published its yearly report on Finland’s 250 largest ICT companies. It states that ICT sector has grown rapidly; one sign was that minimum revenue limit in order to get to the list was 10.4M euros when it last year was 9.1M euros. The average turnover...

Profit Software rebrands as Evitec to support Nordic expansion

Profit Software is a leading provider of system solutions and consulting services to the Nordic financial service industry. It also offers analytics and information management services across multiple industries. The company is now starting a major rebranding project...


The development path of an initial idea into a new functionality

In the beginning, there is an initial idea. A fragment of a phrase from a conversation suddenly springs to mind. A question to colleagues, "has this ever come up with your client?". And in no time, we are in full swing at work, conceptualizing a new functionality! The...

System renewal – an upgrade in technology or also something else?

When discussing a system renewal, hot topics are amongst other digitalization, automation, conversions, and migration. And nothing wrong with these, all important factors ensuring the new system operates as whished and delivers the expected benefit. But will a system...

Tuotekehitystä ketterästi ja yhdessä oppien

Tässä sisältösarjassa tuomme esille Profit Softwaren eri kehittäjätiimejä. Nyt esittelyvuoron saa Mikan ja Teron johdolla tuotetiimimme, joka on erikoistunut Profit Life & Pension -järjestelmään tunnetussa ja pitkäaikaisessa finanssialan asiakkuudessamme. Mika...