ASE Automotive Solutions has been acquired by Canadian firm Valsoft Corporation, it’s been announced.
Valsoft, an acquirer and developer of vertical market software businesses, said the acquisition of ASE will allow both companies to ‘consolidate’ the market.
Making the announcement, Valsoft CEO Sam Youssef said: ‘We’re extremely excited to enter the automotive vertical with one of the leaders in the space.
‘We are confident that with ASE’s track record and team, along with our software expertise, customers will greatly benefit from the innovations to come.
‘We intend to consolidate this market with ASE, and we are planning to continue investing heavily in the space.’
ASE has been a leader in providing automotive software, and consultation, auditing, tax and corporate finance services in the car industry for nearly 50 years.
Rob Jones, ASE CEO, said: ‘We are very excited about partnering with Valsoft to bring their software expertise and investment into ASE.
‘This partnership will enable us to further develop our global technical solutions, helping our clients to maximise profitability from their automotive retail operations.’
Rob Jones and Mike Fazal, ASE CCO, and the rest of ASE’s global team will ‘continue to lead the business’, Valsoft said, but chairman Mike Jones, a regular contributor to Car Dealer, has left the business.
Writing on LinkedIn, Mike Jones said: ‘It’s been an amazing 20 years and I am very proud with what we achieved with ASE and look forward to seeing it prosper as part of Valsoft.
‘Now I have decided to take the opportunity to begin a new chapter within the fascinating, ever-changing world of Automotive Retail.
‘There’s certainly a tidal wave of change coming and I look forward to utilising my retail and technology knowledge to help businesses navigate and prosper along that journey.
‘Many thanks to all colleagues and customers, not least Trevor for having the vision to start ASE in 1975.’
At the end of 2020, Car Dealer joined forces with ASE’s Mike Jones and GForces to create the Car Dealer Top 100 – a unique list of the most profitable dealers in the UK.
You can watch the Car Dealer Top 100 video at the top of this story.