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 $100 Billion Circular Economy marketplace. Simple Auction Site (SAS) provides auction platform services in the sports collectibles and fine wine sectors. Over the past decade, Auction Software & Simple Auction Site have established themselves as trusted partners for businesses looking to implement forward, reverse, and hybrid online auctions by delivering innovative, private-label and SaaS auction websites.
"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
