The company was founded in 1982 by two ex-Sinclair Research staffers, Richard Altwasser and Stephen Vickers. Their machine was, externally, remarkably similar to the ZX80 and also used the same processor. The £90 Ace was a flop in both the UK and US markets, in the US it was sold as the Ace 4000.
The company went bankrupt in November 1983 and its assets were sold to Boldfield Computing Ltd. in 1984. The remaining hardware was sold-off into 1985.