Olavi Akerman Appointed as EVP of Software Production and Delivery

Oct 1, 2006, Helsinki (Finland)

Profit Software has appointed Olavi Akerman as Executive Vice President for Software Production and Delivery. Mr. Akerman will also assume the role of Managing Director of the Estonian subsidiary. This appointment marks a period of rapid development for Profit Software as a leading vendor to the financial industry.

Olavi Akerman has comprehensive experience and a solid track record in managing large-scale software production. He has been instrumental in developing profitable production units that employ flexible international subcontracting methods.

"Olavi brings a level of knowledge and a professional calibre that will help secure our international growth. His background in running software development and subcontracting is extremely impressive. Being first to market with a robust product offering, we also want to be the industry leader in providing fast and accurate solution deliveries," states Harry Nyroos, CEO of Profit Software.

Olavi Akerman said: "This is an exciting time to join Profit Software, as it has succeeded in building an excellent foundation for its innovative and ambitious product-based strategy. I am eager to join Profit’s management group and make my contribution to building world-class production and delivery practices for Profit Software".

Profit’s solutions combine the latest thinking in insurance with modern software technology, providing a uniquely flexible environment for the design and creation of comprehensive life and general insurance portfolios. This opens up completely new possibilities for operating an insurance business with a significantly lower cost base.

Contact Profit Software:
Harry Nyroos
President
Tel. + 358 9 6817 3302

Olavi Akerman
Executive Vice President, Software Production and Delivery
Tel. + 372 6710 220