Belgium-based Sofico, a privately owned provider of global fleet, leasing and mobility software, has acquired the French IT solutions company, Car Systems.
Founded in 1985 and based in Avignon, France, Car Systems provides fleet software solutions and hosting for short and long term car, van and truck rental operators. Its business activities cover France and southern Europe and it employs a staff of around 20 employees.
The acquisition fits with Sofico’s growth strategy and broadens Sofico’s market coverage to include short term car, van and truck rental. It provides a solid foothold in the French and southern European fleet markets, where Sofico already has a number of customers.
At the moment, Sofico consists of seven autonomous regional units, backed by a series of process-specific support units. The Car Systems operations will be integrated into this structure as a new unit with its focus on France and southern Europe.
Sofico guarantees to provide continued support to Car System’s current portfolio of customers. Furthermore, Sofico has set aside a sizable research and development budget to allow for specific features of Car System’s products to be incorporated into its primary fleet software solutions Miles, Miles Web and Miles Mobile.
The acquisition has been formally approved by the commercial court, the ‘Tribunal de Commerce d’Avignon’, which selected Sofico ahead of two other contenders from within the leasing and fleet software industry.
Gémar Hompes, managing director at Sofico, said: “We are delighted to have been successful in the strategic acquisition of Car Systems, a leading player in the fleet software sector in France.
“The business is a perfect addition to our current operations and increases our coverage in France and throughout Southern Europe. It also fits with our strategy of expanding into new sectors of the global fleet market – in this case short term, car, van and truck rental.”
Paul Biggs (Millbrook Technology Solutions Ltd) - 22/07/2014 11:32
Interesting to see how this pans out and whether it's the start of a wider consolidation amongst system providers. It's not a major surprise, but I didn't have Sofico at the top of my list of acquirers.