The purchase of ASC marks the second recent, sizable acquisition made by Mi9, which scooped up Raymark, a Montreal-based software company whose clients include Helzberg Diamonds and London Jewelers, in November, gaining its first jewelry clients in the transaction.
The independent and multi-store jewelers who use ASC’s software will join Mi9 Retail/Raymark’s 12 existing jewelry customers to form the base for Mi9’s new Retail Jewelry Group, which will be led by ASC Executive Vice President and co-founder Barry Kraft.
The rest of ASC’s staff, including President Richard Smith and Director of Software Development Mark Dugan, both of whom founded ASC alongside Kraft, will remain intact, and the company will still be headquartered in Boston.
In addition, ASCUS, the advisory user group comprised of more than 100 independent jewelers, will be combined with Mi9 Retail’s Customer Advisory Board, forming a super-group, of sorts, that will give input on how software is working.
The amount of the transaction was not disclosed.
Based in Miami, Mi9 Retail develops and provides merchandise management, retail analytics and store operations software. The company also offers mobile point-of-sale, mobile inventory management, CRM (customer relationship management) and mobile clienteling applications.
Longtime ASC customer and Long Jeweler’s President Craig Rottenberg said Mi9’s acquisitions of both ASC and Raymark mean that ASC customers, and the jewelry industry in general, will “reap incredible benefits.”
“Independent jewelers of every size will now have the opportunity to utilize world-class software--from POS systems to data analysis, mobile applications, CRM and clienteling--that will better manage operations and improve customer engagement into the future,” he said.