Maryland Firm Buys Software Maker

Automotive software developer 5Square expects to remain in Westlake Village following its acquisition by East Coast firm iMagicLab. Terms of the deal were not disclosed. iMagicLab will integrate 5Square software into its platform to provide expanded applications for its core customer group. The acquisition follows five years in which 5Square spent tens of millions of dollars to build its infrastructure. “The result is that with this acquisition we have added capacity, expertise, amazing people, and a patent-pending process that is the right fit for a large section of the automobile retailing world,” said iMagicLab CEO Richard Keith Latman. “iMagicLab has never been stronger, and we’re proud to welcome the former 5Square to the family.”