Motor software companies merge

Q.bit Systems of Berkamsted in Hertfordshire and Universal Training of Knaresborough have merged to create a new company called q.bit Holdings.

The deal between the two motor software companies, worth £6 million, was brokered by Yorkshire accountants Garbutt & Elliott.

The new company will provide a range of software and data products for motor dealers across the country.

Nigel Pates, managing director of q.bit said: “The two companies have worked together on an informal basis for a couple of years now and it was clear that there was a synergy between us. It seemed natural to join forces and provide a comprehensive product for the motor retail industry.”