TORONTO, ONTARIO – Aug. 24, 2005 – Acquisition of AbovePlan expands Camilion’s Product Lifecycle Management offering Camilion Solutions, Inc., the leading provider of Product Lifecycle Management (PLM) solutions for the financial services industry, today announced the appointment of Ross Orrett as President & CEO. Mr. Orrett has been an independent member of Camilion’s Board of Directors since February 2005.
With the appointment, Camilion also acquired AbovePlan Corporation, a software company founded by Mr. Orrett that provides ‘on demand’ sales and marketing solutions for process-intensive industries like insurance and financial services.
Prior to AbovePlan, Mr. Orrett was President & CEO at InSystems, a provider of document automation and relationship management solutions to the insurance and financial services industries. He was a major contributor to the growth of InSystems – from an entrepreneurial company with less than $1 million in revenues, to almost $40 million in revenues and over 300 customers – before its strategic acquisition by Standard Register in 2002.
“I’m pleased to welcome Ross and the AbovePlan team to Camilion,” said Ron Dizy, Chairman, Camilion Solutions. “Ross’ experience building successful software companies will provide Camilion with the leadership and insight needed to continue to capitalize on the tremendous opportunities in the PLM for Financial Services market with exemplary products and services.”
“Camilion’s Product Lifecycle Management solutions are attracting large insurance carriers who want to create differentiation and new market opportunities through product innovation and speed-to-market,” stated Mr. Orrett. “AbovePlan’s sales and marketing solutions complement Camilion’s Product Innovator(TM) and we’re all looking forward to working with the team here to extend Camilion’s PLM offering for the financial services industry.”
About Camilion Solutions, Inc.
Camilion Solutions, Inc. is the leading provider of Product Lifecycle Management solutions for the financial services industry. Its solutions enable companies to quickly and efficiently launch new products into target market segments and manage the increasing complexity and proliferation of product features across multiple channels, without having to replace existing legacy systems. Founded in 2000, Camilion Solutions, Inc. is a privately owned, venture capital funded corporation headquartered in Toronto, Canada. For more information about Camilion and its products and services visit us at www.camilion.com.
