Valsoft Corporation strengthens its Financial Services portfolio with the acquisition of Virtual Trader
Montreal, Canada, August 4th, 2023 – Valsoft Corporation Inc. (“Valsoft”), a Montreal-based company specializing in the acquisition and development of vertical market software businesses, is pleased to announce the acquisition of Virtual Trader, a prominent industry leader specializing in the automation of intercompany operations within ERP and financial accounting systems in the UK.
Virtual Trader, a private company founded in 2003 by former Oracle independent consultants in the UK, has emerged as a leading provider of automation solutions for intercompany functionality in ERP and financial accounting processes. Recognizing the need to avoid repetitive customizations, Virtual Trader expanded its operations and incorporated in the U.S. in 2013, establishing offices in both the U.S. and the UK to facilitate software development, implementation services, and customer support.
“Valsoft was the ideal home for protecting the 20-year legacy of the Virtual Trader intercompany solution as we move forward to the next level of growth and investment,” stated Keith Porter, co-founder, and CEO of Virtual Trader. “We look forward to leveraging the expertise that being part of the Valsoft family will bring for our wonderful customers.”
Initially specializing in automation for Oracle E-Business Suite, Virtual Trader leveraged its extensive experience in Oracle ERP software. As the demand for intercompany accounting solutions grew among multinational organizations, the company extended its offerings to include multi-instance and multi-system integration for customers operating in diverse ERP environments. Central to their system is an advanced business-rules engine, complemented by a configurable user interface, allowing the solution to adapt to evolving business requirements effectively.
“We are delighted to welcome Keith and the Virtual Trader team to the Valsoft family,” said Michael Assi, President of Aspire Software, the operating arm of Valsoft. “Over many years, Virtual Trader has developed and supported a highly technical application which adds enormous value to global enterprise customers with complex intercompany transactional requirements. The knowledge and experience of the team in this sector is unparalleled: together we can build on this heritage to address the wider market facing the same challenges.”
About Virtual Trader
Virtual Trader offers comprehensive solutions that automate the entire intercompany lifecycle. Their software serves as a hub for intercompany activities, supporting various functions such as supply chain management, reconciliation, eliminations, and compliance. By capturing transactions at the transaction level, Virtual Trader enables efficient statutory reporting and expedites intercompany processes. Additionally, their solutions are designed to adapt to changes in legislation, ensuring ongoing compliance.
About Valsoft Corporation
Valsoft Corporation acquires and develops vertical market software companies through which each business can deliver the best mission-critical solutions for customers in their respective industries or niche. A key tenet of Valsoft’s philosophy is to invest in well-established businesses and foster an entrepreneurial environment that shapes a company into a leader in its respective industry. Unlike private equity and VC firms, Valsoft does not have a predefined investment horizon and looks to buy, hold, and create value through long-term partnerships with existing management and customers.
Valsoft was represented internally by Oliver Gray (Senior Legal Counsel), Ssin Choi (Senior Legal Counsel), David Felicissimo (General Counsel) and Elisa Marcon (Corporate Paralegal).
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