Liquidity Services Acquires Auction Software, a leading provider of auction software and marketplace technology
Rhea-AI Summary
Liquidity Services (NASDAQ:LQDT) has announced the acquisition of Auction Software/Simple Auction Site to establish Liquidity Services Software Solutions, Inc., a new private-label and SaaS division. Founded in 2015, Auction Software specializes in auction and marketplace solutions for the $100 Billion Circular Economy marketplace, while Simple Auction Site focuses on sports collectibles and fine wine sectors.
The acquisition aims to strengthen Liquidity Services' position in the Circular Economy marketplace by expanding its software development capabilities and supporting businesses through private-label and SaaS marketplace solutions. The company will retain Auction Software's founder Rajesh Rajaram and existing employees. While specific terms weren't disclosed, the transaction is not expected to materially impact Liquidity Services' overall results.
Positive
- Expansion into the $100 Billion Circular Economy marketplace
- Addition of established auction software capabilities and expertise
- Retention of key personnel and existing team
- Enhancement of software development capabilities
Negative
- None.
News Market Reaction
On the day this news was published, LQDT declined 3.52%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
New unit will deliver secure, scalable auction software to the multi-billion dollar Circular Economy
BETHESDA, Md., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Liquidity Services, Inc. (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced the acquisition of Auction Software/Simple Auction Site, to form the core of Liquidity Services Software Solutions, Inc, a new private-label and software-as-a-service (SaaS) arm of Liquidity Services, Inc.
The transaction strengthens Liquidity Services’ penetration of the large and fragmented Circular Economy marketplace, extending its software development team’s capabilities and its ability to support entrepreneurs, small and medium sized businesses, and global F500 corporations through complimentary private-label and SaaS marketplace solutions.
Founded in 2015 by Rajesh Rajaram, Auction Software specializes in the development of comprehensive auction and marketplace solutions for a wide range of organizations to successfully participate in the
"We are excited to welcome the collective Auction Software/Simple Auction Site team and their customers to the Liquidity Services family," said Bill Angrick, CEO of Liquidity Services. "This acquisition aligns with our commitment to empower organizations to create value in the Circular Economy marketplace using innovative solutions. We are dedicated to serving Auction Software and Simple Auction Site’s clients with the highest level of professionalism, data security and reliability to enable their success, and together continue the digital transformation of how commerce is conducted in the Circular Economy.”
Liquidity Services will retain Mr. Rajaram, Mr. Freedman and Auction Software/Simple Auction Site’s employees post-closing and continue their focus on delivering market-leading auction software solutions for their clients. Terms of the transaction were not disclosed, and the transaction is not expected to be material to Liquidity Services’ overall results.
Contact:
Liquidity Services
Investor Relations
investorrelations@liquidityservicesinc.com
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