On September 21, 2023, Valsoft Corporation Inc. (“Valsoft”), a Montreal-based acquirer of vertical market software businesses, acquired ICL, a provider of transportation and logistics solutions, on September 21, 2023. The transaction value was not disclosed.

Founded in 1992 by Patrick Donahoe, ICL specializes in supply chain visibility and invoice-auditing solutions for logistics operations. Its software offerings include the Vehicle Logistics Management System (VLMS) for Original Equipment Manufacturers (OEMs), Rubicon VLS for lead logistics providers, the ePOD App for auto haulers, YMS Express for yard managers, and the Rail Shipment Visibility Portal (RSVP) for rail shippers. The acquisition aligns with ICL’s goal to scale its operations and expand beyond its core automotive logistics business.

Valsoft, through its operating division Aspire Software, plans to support ICL’s growth while maintaining its commitment to innovation in logistics technology. Gustavo Vargas, Operating Partner at Aspire Software, highlighted ICL’s leadership in automotive logistics, yard vehicle management, and rail logistics as key drivers of the acquisition.

Valsoft was represented internally by David Felicissimo (General Counsel) and Ssin Choi (Senior Legal Counsel). ICL was represented by Fred Whitaker and Ashley Bolduc of Cummins & White, LLP.