Liquidity Services Buys UK's GoIndustry DoveBid
By Ina Steiner
Liquidity Services Inc, an online marketplace that offers integrated services for surplus assets, has completed the acquisition of UK-based GoIndustry DoveBid plc, a global provider of surplus asset management, auction and valuation services, for $31 million.
During calendar year 2011, GoIndustry recorded approximately $211 million of gross merchandise volume. It offers clients a Saas based service called AssetZone that "empowers users to identify underperforming or idle assets and make value based decisions to redeploy them around the world or sell them at market value. It also helps them catalog and manage ownership records for active assets and source new requirements cost effectively in the global second hand marketplace."
GoIndustry holds over 1,000 annual online sales events on the go-dove.com website across a broad range of industrial capital assets. Liquidity Services said the acquisition enhances its ability to deliver surplus asset management, valuation and disposition services to large enterprises across North America, Europe and Asia and adds over 458,000 professional buyers.
Current GoIndustry clients include BAE, Bosch, Covance, Ford-Europe, Honeywell, Ingersoll-Rand, Pfizer, Renault, and Visteon, as well as asset-based lenders, Barclays, HSBC, Lloyds, JP Morgan, PNC, RBS and Siemens Financial.
Liquidity Services CEO Bill Angrick said the strategic combination expands its seller base by adding over 50 Fortune 1000 clients across complementary vertical market segments, enables it to offer new services and broader global coverage to existing sellers, and grows the buyer base for its online marketplaces. "Our complementary strengths, unmatched buyer base and know-how clearly position Liquidity Services as the trusted provider of choice for Fortune 1000 corporations in the reverse supply chain."
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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