GoIndustry DoveBid Has Been Acquired by Liquidity Services

GoIndustry DoveBid Profile

  • GoIndustry DoveBid (AIM: GOI), was a publicly-held corporation based in London with 290 employees in 36 global offices
  • The company was a leading provider of surplus asset management, auction and valuation software and services to enterprises worldwide
  • GoIndustry DoveBid, the leading global seller of surplus assets, served more than 6,000 selling clients and over 407,000 individual buyers across 108 countries
  • The company also offered AssetZone, a SaaS solution used by enterprises to manage, track and dispose of capital assets

Liquidity Services Profile

  • Liquidity Services (NASDAQ: LQDT), a publicly-held corporation headquartered in Washington, D.C., provides online marketplaces and integrated services for the sale of surplus assets
  • The company enables Fortune 500 corporations, middle-market companies and government agencies to maximize the value of surplus capital assets, and at the time of the acquisition was auctioning over $5.2 billion in annual gross merchandise volume
  • Liquidity Services has over 1,300 employees in over 30 offices located worldwide

Transaction Notes

  • GoIndustry DoveBid stockholders received £0.73 in cash per share, equating to an announced deal value of approximately US $31 million
  • After considering the advice of Shea & Company and legal counsel, GoIndustry DoveBid instructed Shea & Company to solicit bids from interested parties, including Liquidity Services
  • The acquisition of GoIndustry by Liquidity Services was announced on May 9, 2012 and closed on July 5, 2012
  • The acquisition enabled Liquidity Services to expand the size and depth of its buyer base, client roster, sales team and marketing capabilities
  • “This strategic combination enhances the size and scale of our online capitals asset marketplace in several key industry verticals and enables us to serve our respective Fortune 1000 clients and buying customers with the broadest array of innovative services and a truly global footprint to maximize efficiency and financial recovery.” – (Bill Angrick, Chairman and CEO of Liquidity Services)
  • Shea & Company served as the exclusive financial advisor to GoIndustry and its Board of Directors
 
$31,000,000
has been acquired by
Shea & Company served as the exclusive financial advisor to GoIndustry DoveBid's Board of Directors